Has anyone dealt with purchasing property that is part in/ part out of the newly designated Opportunity Zones? Just wondering how I'd best proceed when purchasing a property meeting that description, other than the ob...

For decades, the owners of this property that straddles Los Angeles and Kern Counties have attempted to build a residential development 70 miles from downtown Los Angeles: a 6,000-acre, 20,000-home master-planned community named “Centennial.”

Some threads straddle the borderline and/or veer in that direction through no fault of the OP.

He started getting really strange with me and I think straddling the ethical boundaries in order to get what he wanted.

However, if you took one property and after fixing it up you decided to hold it and emailed your CPA that you decided to hold it as a rental and then you did actually rent it out for a period of time - say 24 months, which would straddle three (3) tax returns - and then sold and exchanged - you would be able to demonstrate that you did in fact have the intent to hold. 

I found the property card for it and it has remark : "Dwelling straddles adjoining parcel"Is this something to worry about?

Holding the property for at least one year means that you will straddle two income tax periods and give you two income tax returns listing rental income, expenses and depreciation, all of which help to provide you with a solid argument that you did have the intent to hold the property for rental, investment or use in your trade or business.In addition, the United States Congress at one time considered a minimum holding requirement of 12 months for both relinquished and replacement properties.

If you have a fact pattern that might suggest you intended to rehab and flip, I would hold for something like 24 months, which would straddle three (3) tax returns and make it very difficult for anyone to challenge your intent. 

Many thanks from the 'Twice as Nice' town of Texarkana (come see the only US Post Office that straddles two states :)

A 24 month holding period will straddle three income tax returns, which will provide very strong proof that your intent was to hold for rental purposes.