What does the zoning certificate say?

If you wait to long, you might have missed a small window to salvage the project.Here are some red flags for bad contractors courtesy of the Asset Based Lending Blog (abl1.net)They don’t want to sign an independent contractor agreement.They resist getting specific with milestones and deadlines.They resist giving you referrals or allowing you to visit a current work site.They may hedge on pricing and estimates.

Are there any flood X zones in Slidell?

Sure…if you take the time value of money and subtract all the expenses, mortgage etc…I may have only come out slightly ahead, if not in the red. 

I can’t imagine why it would take 9 weeks to read a sentence or two in the zoning requirements and make a determination.

Taxes are a consideration, but they shouldn't be the primary driver behind nearly any investment (qualified opportunity zones receive extra consideration - but should still be a winner before taxes as well).

I have found some land over 30 acres zoned C for medium density multi family dwellings for little to nothing and my findings are it’s just an absolute steal sitting there waiting for me.

@John Underwood in certain counties in TN like Davidson (nashville) you cannot get owner occupied permits in an LLC.99 % of owner occupied permits are for Residentially zoned properties.

In general, I'm curious if this is a good investment opportunity long-term and what other information I should know to help make the decision.Here are some of the numbers:Property Value: Estimating ~$800,000, but it hasn't been officially appraised since it was purchased 10 years at $500,000.Taxes: $4,000Insurance: $2,100Year Built: 19125 Total Units: 2Br/1Ba, 2Br/1Ba, 2Br/1Ba, 1Br/1Ba, StudioUtilities: Owner pays only water and trash.Mortgage: Despite being zoned as a 5-plex, the property has been approved for residential mortgage previously (one unit classified as storage during appraisal).Previous Gross Rents: $45,480 (previous owner was very generous with rent to family/friends)Estimated Gross Rents: $69,600 (based on market value)Previous Annual Expenses: $12,500 = 27% of gross rent. 

I've definitely found myself drawn to these properties and managed to pull my eyes away because I'm not sure war zone investing is the way to go.