My realtor has had no luck disputing appraisals of this nature in the past, based on the depth of information the appraiser typically uses to determine a value. 

You can talk to other investors about an area that you might invest in to determine what kind of tenants you might get.

Hi Christian -- not really looking to add this to the model -;)  I got this very specific question and determined that I didn't have a rule of thumb for that and so didn't have a ready answer.

Since you are looking for a blanket loan for multiple properties, there won't be a fannie mae restriction and it will be up to your local bank (or whatever lender you use) to determine timing on when they will lend, and how much they'll lend.

Prior to purchase 2 years ago, I had determined that a reasonable rent was $700-850, with the caveat that these are a bit hard to estimate as 3-bedroom units in a 2-bedroom market, with the units a bit more upscale that typical in the neighborhood.

I will admit that I am fearful, but determined to learn the about real estate investing.

Llevo 4 años sin ir a la isla  espero pronto dar una vuelta. .. 

Have determined what you want to do in REI?

@Shayla Fletcher I check all properties at http://maps.lsuagcenter.com/floodmaps/ If the flood hazard areas show in blue, (or sometimes grey on old black/white maps) that is the effective map that is used to determine flood insurance rates and whether or not flood insurance is required by lenders. 

@Chris W.You've gotten some great advice, particularly around putting together a wealth building strategy.As a local, and assuming you have already determined you want to make REI a part of your wealth building strategy, I'm going to be a little more specific.Assuming your horizon is further into the future, and you're more interested in building wealth than immediate cash flow, I would buy land along the 75 corridor.  75 is being widened up that direction.