You are going to a different Building Code standard that usually triggers fire protection, usually a residential sprinkler system in at least the unit you are creating.

The purpose of this program is to put capital to work that would otherwise be locked up due to the asset holder's unwillingness to trigger a capital gains tax. [1]To qualify, the Opportunity Fund must invest more than 90% of its assets in a Qualified Opportunity Zone Property located in an Opportunity Zone.[7] The property must be significantly improved, which means it must be an original use, or the basis of the property must be double the basis of the non-land assets.[8] Capital gain taxes are deferred for investments reinvested into investments in these zones and, if the investment is held for ten years, all capital gains on the new investment are waived.[3] Opportunity zones are census tracts designated by state authorities.

But property need to be sprayed and tented for dry-wood termites and needs all new roof.

I once outbid 19 other offers on a property in MLS because I got their first (I was triggered the minute the property went live on MLS), and I knew the floorplan and could speak intelligently to the agent about the property and neighborhood, so he knew I was less likely to cut and run like many investors who throw offers out there. 

Would love some help and feedback before pulling the trigger.

They had done a lot of very poor dry wall repair and had remolded a bathroom.

You'll need to build a team with a realtor, property management, and even contractors - once you start making those connections and finding reliable resource, it'll be much easier to narrow your focus and pick a market to pull the trigger on your first buy.Best of luck to you!!

@Andrew Weiner and @Jacob Repreza i'm super glad things are working out for you guys as well and this really adds to my confidence of pulling the trigger and purchasing another rental before it's too late appreciate all of your insights!

If it is, it could possibly trigger the due on sale clause which would be a risk.

I'm a few books deep into real estate, analyzing properties, and constantly on the search but have yet to pull the trigger yet.