My quick math shows you almost $100/month in the red.

@Tracy MungerNo Those look like all red flags to me and who cares what the selling realestate agent thinks its your money and your pain in the *** afterwards I walked away from a property after flying out and spending over a $1000 to inspect the property glad i spent it the 1000 but saved over 100,000I

Finding a person willing to sell, that the parcel has room for an ADU, while also falling within the different zones for the MPLS 2040 plan AND Opp Zones?

The upstairs attic is unfinished but I believe I might be able to get it zoned as a third unit.

That said, there are Projects that are beyond a comfort zone, like hillside construction if you have never done it.

I also looked at some of the recent postings and it seems they have advertised to a lot of section 8 tenants and in their marketing promise they "Can Get You Automatically Approved" which is a red flag.

Literally the next block on the east side of Penn is a class D war zone with drive by shootings and the whole works.

You could also try putting an option to purchase on the property, which would allow for you to get zoning approval, etc.

Go here to see the zoning for the property address: http://property.nola.gov/ then download the short term rental handbook: https://nola.gov/short-term-re... and look up your zoning to see if it's even legal for that unit to get a permit.

When I was looking to refi a few months ago, I wasn't satisfied with all the red tape, added costs, and rates of my bank, so I kept exploring.