The New Orleans agent was able to connect us with a local lender.

Also important is being able to find a reliable property manager in the area.I'd love to hear from local investors – am I looking at the right areas?

Building Codes and Permits: Insights on navigating local building codes and securing permits for this type of conversion would be incredibly helpful.Potential Pitfalls: Are there any common issues or unforeseen challenges I should be aware of when undertaking a project like this?

You can probably find basics of these forms online and then have a local attorney clean them up and make them compliant for your state (or the lawyer could draft them although they'd be a bit more expensive).

go to the local FB forums and attend local RE meetings. 

I just got word from a trusted friend who owns a large local property management company in PF.  

My guess is that it is localized. 

Have you had success networking locally?

Given he was originally from Australia I thought it would be prudent to find out from local sources what his back story was.

A lot of lenders should be able to do this, but local banks who only offer conventional financing usually cannot do this.