Take this and go buy treasury notes.

And I'm having a hard time convincing our bank to allow this large a check deposit through the mobile apps (when they have one, ugh community banks sometimes)... unless we want to upgrade and pay for the privilege of their "treasury services".Thoughts?

Treasury Dept and IRS have provided minimal guidance and indicate that Opportunity Zone investments are self-certified (for now).

A number of the online banks are offering interest at around 1.65% to 1.7% which is pretty good, and federally insured.If you are willing to hold onto something for a few years, I would consider Treasury bonds. 

My "reserves" are actually invested in equal parts cash, long-term Treasury bonds, the total work stock market, and gold, which is a very defensive asset allocation that should theoretically hold its value and likely grow in just about any economic environment.

The 2nd tranche of Treasury guidance is expected out soon and hopefully will clarify this and other issues with this new program.  

For that matter, I have yet to see anything on the MLS (I haven't found a good source of off-market opportunities yet) with a cash ROI above a 10-year treasury bond (once all costs are taken into account).I'm already heavily invested in other non-RE assets (stocks, bonds, etc.) so for me to go in on a property that needs rehab, management, etc., it better be worth the extra hassle.

I own property in an OZ in North Hollywood that I plan to pitch to OZ funds to develop once all the IRS and Treasury rules / guidelines dust settles. 

I recently requested a tax delinquency roll of properties in the county from the treasury & tax department.

I'm thinking about putting the money somewhere 'safe'(maybe something like us treasury money market fund) that would give me enough returns to match inflation, so that i could then invest that when there is a downturn/correction/recession, without losing any of my buying power.