You might get lucky and they may leave.You will attract a higher quality tenant if you avoid section 8 by setting your screening standards higher.

Also, if you buy a property that rents towards the middle or top end (just not the bottom end) of the market you will likely get a better tenant quality. 

The quality of tenants is usually very low, vacancies last much longer, rent to property values are low, appreciation is lower, cash flow is lower and exit options are limited.

To give a little background on this property it was recently remodeled top to bottom and although it looks really nice and a lot of items are new the quality is of average building material. 

I would suggest linking up with a NOLA RE agent or someone who knows NOLA as it can be very neighborhood-specific in terms of home values/quality, probably more so than most other cities.

Houston is finally starting to get some respect as we get a major influx of people coming from other cities looking for lower taxes and better quality of life.

However, double closings are allowed in Minnesota to my knowledge.Also, I agree with Rex in that I haven't found a good wholesaler in MN based on the quality of the lead.  

Use top quality materials, you want this to last a long time.If the spawling is bad, chip off all the loose and soft parts and fill the voids with concrete, then skim coat the entire outside.

But, the simple facts are, people are moving to Texas, and good quality properties will continue to be in demand for both purchase and rental.  

Laura,Tons of forums on this topic on BP (try searches on "screening", etc)...People will and have chimed in with their process and recipe....Also, you may want to also look broadly at the renting and tenant onboarding process (I have a few classic buy and hold landlording books on a blog post, all should be free at library or low cost at used bookstore).....Best of luck!