It's not a panacea and it's not for everyone but for the really outgoing who want to get with people to do deals and don't need heavy defined how-to-content will get way more value than the cost. 

Isn't wholesaling defined as selling a contract?

Have you defined any of the nuances to your strategy of a long term rental?

Are the benefits worth the risk.Additionally, everyone will define exactly what OPM is differently.  

With a small number of properties cash-flow is VERY inconsistent, especially depending on how you define it. 

This is not a "real estate rental income" activity as defined by the IRS, so whether you are a REP or not, you can take this benefit.All of this is separate from a QOZ Investment, which would require you to first recognize a capital gain from another source (say a stock sale), invest that gain, hold it in a Corporate or Partnership structure (likely partnership), meeting the substantial improvement qualifications of being a QOZB, and then yes, you get to avoid the depreciation recapture at the end of the 10 year hold period, at least for the portion of your investment attributable to the original gain that you invested in the project. 

Your labor cost needs to be defined in your lease and can't be more than a reasonable contractor bill.

@Michael Ludwig Others have defined it perfectly but I’ll use an example based on your St Cloud location for the 1% rule.

And call me jaded but I often can judge which a person will be in a few minutes because 1 defining difference between the 2 is one is singularly focused, and the other has an entire fairy tale. 

The vast majority of states also leverage figures on a federal return as a starting point to define taxable income, making adjustments to those figures to arrive at the portions of income that are taxable for state tax purposes.