The plan is to purchase a residential multifamily in the New Orleans or Baton Rouge area using a FHA loan.I'm currently in the research phase, listening to hours of Bigger Pockets podcasts and reading Real Estate Investing by Brandon Turner.

I just choose a different moment before they seek out a Coach or program.I always tell the people I'm helping to do a Deal Analysis in 1 hour and don't seek perfection.

Usually there's a lockup period (often three years) in note funds, so you can't use that cash to do direct note investing.  

That's wonderful.Your state requires 72 hours of Real Estate education. 

However, you can defer taxes under §1033 involuntary conversion if you elect to reinvest the proceeds into a similar rental property within two years (three years if the government condemns the property or threatens to do so, and four years for a principal residence in a federally declared disaster area).To reduce taxable gain, consider:Electing §1033 treatment and reinvesting the full $300K into a new rental property to defer taxes completely.Partial reinvestment, where only the portion not reinvested is taxable.Properly documenting all replacement costs and property details to ensure IRS compliance.Using cost segregation on the new property to accelerate depreciation and offset future taxable income.Since the §1033 election must be made, consult a tax professional to ensure compliance and maximize deferral benefits.This post does not create a CPA-Client relationship.

I just put one for rent for $1700/mo - and received 14 inquiries in 12 hours.

At my parent's passing they will own three homes, all paid for. 

Another is the podcast The Loonie Hour, which addresses investing in Canada in general as well as real estate - one of the "three amigos" on that podcast is a local realtor. 

The redemption period in my state is 90 days, not three years.

But with three partners and one looking to move into the property it will probably be complicated.