Now I have read some of the well off say in so many comments..

I just finished reading "Set for Life" by Scott Trench.

Give it a read, and you'll have a fair understanding of the process. 

Originally posted by @Travis Hill:I am reading a lot about property classes and how, who, and where are they determined?

I did read someone on these forums advising against it too.Any advice/insight about this?

LOL  a softer way to say this is if your simply looking to become a landlord this is a very easy subject to read up on and learn and understand U do not need to pay someone to teach it to you. 

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.

Depending on how long it takes you to save up the amount, you might want to also allow for inflation on that amount for your continued savings.[2]   Read Rich Dad poor dad.[3]   Think about getting a second job - possibly a temporary job - save a 100% of the money.Just my 2 cents.

That alone will help me not read what I don't want to read. 

Quote from @Anil Shah: Since I read a townhome, I assume there is HOA - do they allow STRs?