Highly recommend partnering with a local realtor who knows the market. 

You have to know the market before you build a plan and I don't think this market supports your intended plan.

You need income to qualify for loans, you can learn how to manage rentals well (something most landlords never do), you will figure out which communities/properties make the best investments, can earn an above-average paycheck, and may even find some investment properties before they hit the market.

Try networking locally with HML's who know the market. 

I was interested in this type of deal because I was living in the area for another year and needed to build equity as well as dip my feet into the real estate market.

Or find a deal first then market it to buyers, then offer on the house and create an agreement with the seller & buyer?

In a highly competitive tourist market like New Orleans, I update my photos weekly. 

Woah 13.85% even on an investment property is super high...I got a heloc at a 7.25% (this is variable with the market as with any HELOC) for an investment property.Talk to your local credit union.

U go into C D in any city in the mid west rust belt quote un quote BRRR market or cash flow market and you will experience the exact same thing very time.