STR feels more like a strategy to break even or eek out a meager return on a great asset than a strategy to cashflow.

But your returns will likely be stronger in New Orleans over Baton Rouge. 

It  depends on your risk tolerance and what other assets you’d like to protect.

Sounds like you found a profitable niche 

How do I access a portion of that equity to fund the purchase of 1-2 more MFR properties in more affordable markets like OH, IN, MI, PA, TN, or AL?

Quote from @Enrique Toledo: I came across a really good seller financing deal and I would like to purchase it as my first deal but I don’t have enough money for the down payment.can I use a lender of some sort to give me money for the down payment?

Fully renovated property all new untilities it seems like a grand slam deal. 

It’s great to have you here, and it sounds like you’re in a fantastic area with lots of potential.

Then they lowered the price to $340,000, a step in the right direction, but not as big a step that I liked. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!