Opportunity Zone Fund
Hi Everyone,
I am closing on my first rental duplex in mid-December located in an opportunity zone. I do not yet have an LLC set up for this property and it will be owned by my husband and me at first. We were planning to Quitclaim Deed it to the LLC in early 2019. Based on our research, it appears that you need an LLC to self-certify for the opportunity zone fund. My question is, does the property and/or Mortgage need to be owned by the LLC in 2018 in order for us to file for the opportunity zone fund? Is anything special needed for the opportunity fund itself? Does that "fund" need to be a bank account owned by the LLC? Thanks in advance!