While I type this I am not being present with my kids but speaking with other investors is also important and can help fuel the “bigger cause” of financial freedom, aspirations and other goals I have.

Then of course, you are also hoping for appreciation.While it is attractive to not have to worry about cap-ex for a few years, many maintenance issues are usualy tenant-caused, so there may still be ongoing issues & expenses needing attention.Another option may be to buy an existing cheaper property, that's still in overall good shape.

Most of the population moved to the surrounding suburbs or other cities and abandoned the downtown area, causing it to become a center for poverty, drugs, homelessness, and crime.

In fact, if your tenant does poorly, it may put you in a situation where selling is the best option and you will be stuck using the agent that caused the problem in the first place! 

Louisiana is also a very landlord friendly state and that doesn't hurt either.I have been looking at the rental data in New Orleans lately and it seems like there may be a surplus of rentals available, most likely due to the STR rules causing people to switch to regular long-term rentals.

This would mean your class of tenant causes more damage than expected, or hail destroys your roof *every 5 years* or something similar.

You are dealing with the issue quickly and professionally.The tenant told you the home is causing health issues.

If the attorney is also confused, I'd be worried the bank won't want to do other things for you and cause you problems.

This is causing a huge influx of people moving here for jobs.

When there's tenants already occupying the property, there's often times different leases that were signed among the tenants.Additionally, renting by room usually sees higher tenant turnover which in turn causes more work for the PM.Other challenges to consider:- Disputes/conflicts among tenants (different personalities if a tenant doesn't know the others prior)- Occupancy limits- Splitting utilities (what if someone uses more water?)