Opportunity Zones can be used to minimize tax payments or even reduce to zero.Opportunity Zones were created under the TCJA to; Allow U.S. investors to defer all 2018 capital gains for eight years if the profits are reinvested and held in an Opportunity ZoneLower the amount of capital gains taxes resulting from the sale of a capital asset by 10% or 15% if the proceeds therefrom are held for five or seven years, respectively, in an Opportunity Zone project.Provide for a full exemption from capital gains taxes on all future capital gains on the invested funds if an investment is held for ten years following investment.Happy to connect if you have any questions.  

I guess I'm at risk during a high interest rate environment if one should develop?

it doesn't really start when you sign a contract with that agent to officially represent you in a sale or buy transaction.with that said, the rule of thumb is to respect everybody time and you will do just fine.

I respectfully submitted an offer and they won't counter and have stated no more CD  option.

Clean, respectful and your money is guaranteed. 

I am finding that the list prices are very high in respect to the rents for the area (Madison, WI).

It doesn't matter how much money a top salesperson can earn if you prefer non-social environments. 

My question is how does this affect the previously owned homes and create an environment for investing? 

From what I understand, the standard commission for agents are 6% of the final purchase price. 1.5% goes to the buyer's agent, 1.5% goes to the seller's agent, and 1.5% goes to each of their respective agencies. 

If you have a respectable amount of cash on hand, I suggest seeking owner-financing deals that will enable you to get : a property, experience & you can negotiate a deal to pay a balloon through a conventional loan in a set time frame once you are able to qualify for a loan.