Also what can drive up the cost of the house is your architect- some love to place french doors everywhere, cantilevered porches that require extra structural, etc.  

Hi Lynne, I also notice that all the REI club on meet up are dead and the only active rei are in french.

Need help to build a French drain and determine sewer clog using camera.

I don't have any properties down in that area but I do have some land in French Lick if you are interested in that.  

For example, if I sold 1/2 the balance of the note, the yield DOUBLES to ~20% on a 10% face rate note for the note buyer (unless of course I'm the note buyer, then it's okay :-)Pardon my french, but I will be a son of a b*tch before I pay a totally passive note investor that rate of return in this low interest rate enviroment. 

I'm getting a sense that this is how it really works, depending on whether or not folks at the local housing authority are hard-@sses (please excuse my french).

Make sure you include all costs - sheriffs, movers, storage, etc.Normally I'd want to know a lot more about the basement flooding, but since you've said it's a demo, I'd let it go and address it with drainage and/or french drains when you rebuild.Good luck!

Pretty decent apartments in the french quarter start around $200k. 

Just factor in fixing the reason the basement flooded (could be easy like clogged gutters or extending the down spouts or maybe the sump pump hasn't worked because the electric is off or it could be expensive like digging around the foundation, parging the walls and then adding a french drain or could be real expensive and have a cracked foundation so you need to know) mold remediation and door replacement (if they're really bad) into the renovation figures.  

If anyone claims they can look into their crystal ball and predict future values, ask them why you are having this conversation because they should be on their yacht in the French Riviera.