OR 5+ MFR which is classified under commercial. appraised by the Income approach NOI. 

Opportunity Zones are designed to spur economic development by providing tax benefits to investors.

I might be worth it to look into one, but I'd rather research a bit before approaching one especially since I can't buy another property for a few months at a minimum.

This is the proper procedure to follow and is designed to protect the landlord in the event that rent does not end up being paid.

The minimum openable area to the outdoors shall be 4 percent of the floor area being ventilated.Heat Source- RequirementsR303.9 Required heating.When the winter design temperature in Table R301.2(1) is below 60°F (16°C), every dwelling unit shall be provided with heating facilities capable of maintaining a minimum room temperature of 68°F (20°C) at a point 3 feet (914 mm) above the floor and 2 feet (610 mm) from exterior walls in all habitable rooms at the design temperature.

The more established the better, I might also recommend things that aren't designed exclusively for rent and are designed for a wide variety of C2C B2C and C2B payments more along the lines of Zelle etc.

This is an expansion of a product already available and the expansion is designed to compete with other lenders who have the same product ALREADY in place in those areas. also as @Bill F. mentioned the GFC wasn't because subprime as much because a supercharged derivative market that attached itself to it. anything can be a doomsday predictor if you want it to be, which this forum loves to do 2-3 times a week#theskyisnotfalling

Now that I have the nephew's contact information, how should I approach this?

I am in Navarre, military and approaching my 20 yr retirement mark.

Thanks @Kyle Smith I would like to recommend that you focus on 1-2 locations...how would you know what is a good deal and if its a good area if you take the shotgun approach...