Hi @Damian Mandina,
I think there are several things to consider when looking for properties here. As you probably know, the neighborhoods can sometimes vary from block to block, so I think a lot has to do with your tolerance of what you're willing to take on. That being said, I have some ideas of a few areas.
I like parts of the Lower 9th ward and think property values are increasing and they are going to increase even more once the Perez project gets on its way. There are still a lot of properties available that are in dire need of renovation - but they will need COMPLETE renovation.
I like all the university areas, but you'll have to really work at finding something in that price range - but if you do the legwork, I think you can find something. Look around Dillard, UNO and Xavier.
I've noticed a LOT of vacant properties and pre-foreclosures on the Westbank. I am starting to look at some of the neighborhoods over there and it looks promising.
Those are a few to start with. When we talk we can discuss your question in more details.
Hope