Flood zone AE here in Louisiana is pretty much inevitable.

Parking is worth more than money down there in OB.....And I am pretty sure that your $$ numbers are low, about 50% at least.

@Joseph Opoku Yeah you can still get positive cash flow from day 1 in pretty much all areas except the A class neighborhoods.

This is a pretty critical difference.  

I know I'm getting the tax benefits of depreciation, the minimal positive cashflow, and the appreciation on the property, but It's pretty much a long term play of slowly raising rents annually to increase cashflow, which will eventually get basically reset when my loan goes P+I in 10 years.

I'm a pretty handy guy but this would be outside of my realm, but my experience helps me understand how much this type of improvement should cost.Improvements: remodel kitchen and bathroom, paint interior, fix exterior scafolding.How should I go about finding a contractor?

Small multi-family properties starting at over $1M, which is pretty expensive and, resale single family (before year 2000) offer minimal cash flow (~$200-300/month).2.

If you're pretty smart with this stuff, I think can definitely make sense for you two to talk with a tax planner.

It's real estate in markets with population growth, it's pretty hard to lose money if you get an inspection and appraisal.

A note failing after two months is a pretty rare event Aloha is a very experienced lender.