Make sure to get fairly fast internet if you'll host a lot of guests. 

Secondly a 7% rate with 1-2 points depending on LTV, FICO, DSCR, and prepayment penalty does sound fair/market standard.

I'm fairly new to the real estate game and currently have 2 properties; 4 bed 2 1/2 bath renters have been in there going on their 5th year, and a new 3 bed 2 bath we're looking into using for a midterm.I work as a radiology manager for Methodist and been with them going on 10 years.

Is it fair to ask the tenant to cover a piece?

@Steve Rozenberg Fair enough.

There are too many ways for it to go sideways and only one way for it to work (you stay on good terms with your ex and everything goes perfectly with the house, you split the proceeds fairly when you sell).

That being said, In order to successfully invest in the city of New Orleans you must have a fairly deep understanding of the city.

With $170k to deploy you most likely will have that all in one, maybe two deals, if it doesn’t go well you could end up way worse off.That said, if there are other factors like the property is a huge pain to manage or you are worried the neighborhood may actually get worse or you know you need a new roof in a couple years, then I’d consider selling.Also, even though you said it’s not a high appreciating area, do you think 1-2% is fair?

Meeting strangers at a vacant property is always a gamble also.  

I had the PM get in touch with the contractor and he addressed the "issues" fairly quickly.