Yes, an LLC that elects to be either a corporation or partnership for federal income tax purposes and is organized for the purpose of investing in a QOZ is eligible.What does it mean if a property is “substantially improved”?

It's successful in high-cost markets like Southern California but faces challenges like high entry costs and local regulations.

.- NOI Growth: From $603K to a run-rate of ~$1M within the first 12 months, marking a 73% improvement.

Basically questions that the PM/co-host need to be able to answer without having to do any deep-dive analysis.Property-specific questions such as property improvement advice, revenue potential, etc. that involve deep-dive analysis might justifiably incur an up-front cost depending on the PM/co-hosts business model.

I also invested in improvements: new roof, water heaters, other major appliances, and a kitchen renovation.Now, my situation has completely shifted.

nice, we've been looking at making one of these in-house, seems like a challenge but if executed well should payoff quickly

.- NOI Growth: From $603K to a run-rate of ~$1M within the first 12 months, marking a 73% improvement.

Consider properties with value-add potential to boost rents and improve cash flow.Good luck!

I think the emergency fund can be a challenge for somebody to put together especially starting out, but the sooner they have one the better. 

There might be Some exceptions such as you did a bunch of repairs/improvements which increased the value of your home .