New Orleans Shotgun Double

[Cornelius Jamison]

Looking to close on my first investment property, a Central City double, below the asking price as it has been on the market for about 50 days. Recently renovated, on a raised foundation. Currently has 1 tenant in place, who has paid rent on-time paying (based on seller info). I will be looking for another renter after closing to occupy the other side. 

-Currently looking at a 13% CoC ROI with about $140 mo cash flow, what have others in the area seen in comparison?

-Thoughts on the current area and buying in NOLA. 

-Has anybody had issues buying on a block that was not completely developed (some abandoned homes across the street)?

-Thoughts on inheriting a tenant?

-Have others had difficulty finding tenants since Ida?

All replies much appreciated!