Why are there security concerns?

What are your thoughts,  my concerns that they already have 

I'm pretty concerned to get into this now as Project 2025 is pretty clear about gutting HUD and many social services- the program may be greatly reduced during Trump's term, hard to say.

Second, if you don't have something to share, would someone be willing to look at some numbers and help me know if it looks like a good deal and maybe give me some questions/thoughts/concerns?

There are other concerns with this approach, but 50% down on a ready to go $150k rental in a cheaper area?

You can exclude all appreciation on the original capital gains investment when you exchange or sell a property in an opportunity zone if you held it for more than 10 years.You are able to permanently exclude 10% of deferred gains from capital gains tax as long as you hold the property for at least 5 years and 15% if held for 7 years.Deferral of recognizing capital gains after the sale of a capital asset as long as the capital gains are invested in a QOF within 180 days of the property disposition.

I'm very concerned about this and wonder how it will affect real estate in CA.

I can't speak to that myself, it's not my specialty but I think that would be one of your biggest concerns is their permit processes. 

One of the concerns would be, how long would this last until regulations catch on?

The problem is that non-government jobs aren't permanent.