If I want to do a boring old conventional loan with some light rehab for my first deal, I’m in the world of inspection. 

So many students graduate with degrees only to struggle their first 2-3 years in the real world in their career.

I'm reading the books and the blogs and in the meantime checking out deals to get a boots on the ground exposure to this new world. 

What impact will a slowing of the Chinese economy have on the rest of the world?

But if you’re not willing to make CONSISTENT, TOUGH choices EVERYDAY (I.e Health, sleep, nutrition, exercise, etc) then all the RE books in the world don’t matter.

I know there are things like construction loans and 203k type loans in the retail (1-4) world and was wondering if that existed at all in the 5+ world.

Or can I get a real world example with some numbers so I can visualize it better? 

I would advise you to consult your tax professional as we do not know your individual tax situation, nor what caused your initial interest in QOFs.To answer your question sincerely (with a common answer in the tax and accounting world), "it depends".

The tenants could be the nicest people in the world, but them not paying rent is your primary concern.

Either way, welcome to the world of real estate!