Here's a description about them:Created by the Tax Cuts and Jobs Act, over 8,700 tracts of land across the county have been designated as "qualified opportunity zones,” providing new and compelling tax incentives for rethinking where and how to do business.

Keep digesting info and seeking education until you feel comfortable.  

Just a few repairs, a coat of new paint etc plus some market appreciation and the property maybe right on tract when it comes time to refinance or resell.

Agree with @Natalie KolodijMy advice to all clients who are eligible for the 20% deduction (aka QBI aka Section 199A) is to file an extension and wait until the dust settles.Otherwise, it's quite likely we will have to amend these returns once the IRS issues more clarifications, the software vendors will debug their software (which is work in progress as we speak), and we accountants will digest the implications of the new rules.

Would anyone be willing to give me the "reader's digest" version of how cash flows through a commercial property, and a what the big picture looks like?

I was lucky to find a decent 1978 home to flip for my next project, but I'm going to have to consider larger tracts of land in the near future and was curious what other investors are doing in tight markets where good deals are hard to find.

Easier to digest.   

I now see that there is quite a lot of information to digest before doing the deed.

@Mark HudsonState laws differ for co tracts, real estate, leases, etc., so my sending you the one used in Texas would or could do more harm then good.

Properties should be in the same tract, or you need to know how to adjust them for condition, age, view, upgrades, amenities, and 20 other things.You need sale date, value, upgrades...