The Gulf Opportunity Zone (Go Zone) Act of 2005 was created after Hurricane Katrina devastated many Gulf Coast areas. Thousands of displaced people needed homes. In response, the government created the Go Zone to stimulate the creation of rental properties from private real estate developers. If any individual investor purchases a newly constructed property in a Go Zone eligible area, they can take an accelerated depreciation up to 50% of the appreciable basis in Year 1. Go Zone investing allows for an immediate tax deduction, ongoing cash flow and long term appreciation.