Third, you probably have a great interest rate that I would not want to give up unless a screaming deal came along.If you can access 30-50k from your HELOC you should be able to put that as a down payment on another investment property, just don't forget to factor in this extra payment in your ROI calculations for the rental. 

Entities are created to protect you against two types of liability:Inside liability: something is happening within your entity (slip and fall from a visitor or tenant, mold health issue, ...).Outside liability: something is happening in your personal life (you are at fault in a car crash with major injuries, ...)Not all entities are created equal for liability protection.

Additionally, the state of Louisiana offers a generous tax incentive program for investors who invest in certain designated areas within the city.Tourism Industry - The tourism industry is a significant driver of the New Orleans economy, with millions of visitors coming to the city each year.

The school brings in a ton of visitors for various events throughout the year and it's also located right next to a large hospital where you could cater to traveling nurses... $$$. 

What do you think draws visitors to your specific property / area? 

More than once we heard the 4 y/o boy screaming "I HATE YOU MOMMY", it was awful.

@Christopher Pray I tried to switch to one “property management software” to collect rent and my tenants who were paying electronically screamed bloody murder that they did not know this platform and did not trust this platform and did not want to switch from their trusted Apps that they used every day to the new platform.

There are a few student housing areas that is secured there, but it costs about 800-1200/mo, 6 bedroom apartment (twin bed each) to 2 bedroom apartment, has canteen, study area, bus service to schools, gated community, student only and 10pm visitor limit, etc.

You need to have strict "house rules" posted on your listing and also inside the property with a maximum number of guests, no parties, no visitors and no noise.

She's originally from Germany which helps as we have a lot of German visitors year round.