Renting vs. Buying

[Colin Bussey]

I'll be moving to New Orleans, LA soon to run a large construction project which will likely last 2 years. I was hoping to get some opinions on renting vs purchasing. I currently own three rental properties and a primary. I can easily afford the NOLA mortgage while living there but was hoping to rent out the property after the project is completed. After running rental numbers I cant seem to find a property that cash flows utilizing the LTR strategy. I'm open to STR (lots of restrictions with these in NOLA) and MTR's but have no experience with either. Should I just rent and save my money for the next property that will cash flow, or buy in NOLA? One goal of mine is to also own a second home in NOLA so this might be the opportunity I'm looking for.

Looking forward to any advice I can get.

Thanks,

Colin