I researched areas outside of our comfort zone, built a team in alternate markets and now own and grow rentals in Jacksonville, Baltimore, and Pittsburgh, we will be in Texas by September. 

The project is for 2 fully developed commercial pads in Albany Oregon in the Opportunity Zone.  

We did do our due diligence and have spoken with the city STR permitting office already to verify that we can have 2 owner occupied STR permits since we are zoned R2.

It was marketed as a single family home, but since it is zoned as a duplex, I have been able to rent out the other half of it.

The QOF has 30 months to purchase and substantially improve real estate in an opportunity zone. 

One of the questions asked by insurance companies “are there any pending lawsuits against you or the property….” in your case you would have to answer yes which would raise red flags to the insurance company.  

If rates stay low and we continue to have zoning/permitting regulations that aren't conducive to building more units quickly, demand will be high and supply will remain low which will lead to further appreciation. i saw a recent study that said sellers prefer offers using conventional financing as opposed to FHA because FHA takes longer to close and has more strict inspection requirements.

Additionally, before you get in too far, you should make sure you understand what you can do and can't do and they have a lot of experience in St Paul with zoning especially in the area you are located.  

There are some restrictions depending on if your coastal zone or not.Cheers Mike

Does it have a friendly vibe, or is it a war zone (likely iy's somewhere in between those two extremes).