• If I do become an S Corp - will that help or hinder me getting loans in the future?

You may find yourself being asked for reductions for lots of future inconveniences.

I was never one to sit down and read, however more recently I have found how relaxing it is and instead of reading some fairytale story I'd much rather learn how to better my future and adjust my outlook on life.

When I move out in the future I hope to rent my side out for $600, putting the total rent at $1100 a month, minus the total payment of $723 giving me around $377 cash flow.

@Darrin JacksonWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

It was an incredible experience and definitely got my brain thinking about that as an investment in the future.

My wife and I find ourselves in a position that we have a home valued at 400k.With an outstanding mortgage of 145kCurrently my wife’s parents are on the loan but have no interest in the equity.We are considering a cash out refi and using 100k to put down on another home in the future and then renting this home out.  

You need to refer to the new CZO (Comprehensive Zoning Ordinance) and determine the current zoning as well as the future land use zoning.You can look up the zoning here:  http://property.nola.gov/

Some will learn many will fall into the future traps.  

Pretty rough neighborhoods there.Hope this helps and good luck on your future investments.