Meaning a one-bedroom or a studio rents very easily and has sought-after, a four bedroom is not as desirable.

You can easily include a series of obscure clauses such as "eviction can occur due to...lack of character.....multiple complaints by neighbors....questionable sourcing of income....lying on an application..." list goes on and on.The key point is, put something vague into your leases, and use it.

I can easily afford the NOLA mortgage while living there but was hoping to rent out the property after the project is completed. 

This one easily would have crossed the 6-figure mark, not many LTR can do that unless it's an elite of the elite property.

We can fluff the numbers pretty easily.

The property currently listed for sale on their site shows a cashflow of approximately $144/mo but I feel like that number could easily be eaten up by Capital Expenditures.

You can easily do this on a spreadsheet, and it will take less time to track than finding and learning new software.

Those tend to fall apart more easily or lead to a difficult escrow process.

With the amount of cash that you have to invest, you can easily achieve net $10K per month. 

There are several National Insurance companies that could easily handle 1.6M.