Increasing the market rent for a 3 bed split level home by $700 monthly, rented in less than a week with multiple interested parties Lessons learned?

Avid listener, and finally found a good opportunity to buy a Bed and Breakfast in my city of New Orleans.

Less than a year after I took this picture (which I printed out and hung up on my bathroom mirror so I could see it every night before bed, and then see the real thing at the gym every morning), I quit my job and have never worn a shirt and tie since.

@Allen Moore In New York City, section 8 is awful, the tenants play the system masterfully and the courts are in bed with the city.

Mortgage on my current home (4 bed, 1.5 bath, on roughly an acre, in a quiet neighborhood) is $1445 and the idea would be to rent it out for $2000ish plus all utilities depending on the rental market this time next year but currently that's pretty close to where it would be. 

If you tell a wholesaler the zip code, the SF, the bed/bath and condition they should have a ballpark in their head instantly.

Purchase price: $340,000 Cash invested: $7,000 Water front, 4 bed, 2 bath, detached 1 car garage, pier and dock.

What if one is a 3 bed/2 bath and the other is a 4 bed/3 bath?

For those following along at home, that language is found in Title 10, Chapter 1, Article E, section 6 (or 10-1E-6) in the municipal code.It reads: "The renting or leasing of real property for residential occupation for periods of time less than thirty (30) days is prohibited in any zoning district within the town, except as permitted in this title for hotels, motels and bed and breakfast inns."

You have heads in beds, but are they all paying.Create a budget for repairs and build that into your underwriting.Gino