I will also note that the RC zoning district allows for quite a few extra units so you would get the best use out of your land by building a quadplex or something like that.if you are interested in going forward though I work part time at NOLA builds in town and they do great work for construction at all levels.feel free to reach out if you have more questions 

After that, I sell the relinquish property at $450K, free and clear.

Feel free to share any other advice you might have on the topic.Thanks much- b 

Feel free to send me message. 

You collect market rent (You might be collecting less net rent without a PM, you’re essentially managing for free.)

After that you'd be free to move back into your single family home property if you so choose. 

I really like the all aspects of it as an investor with property managers for my properties, and it doesn't hurt that it's free since I'm not that big.

Feel free to DM me if you have any questions.

Feel free to reach out if you have any further questions!

You don't get to keep that income tax free...If you have to lie and cheat to get the property to work for you, I would just pass on it...you're starting off on a bad foot and will just lose the money you save later...And like @Jonathan Greene said - how did they get a COO without a permit?