My experience renting out rooms to professionals via the company is generally positive, but still, you need to write your own rule and regulation.

Some neighborhoods (and/or HOAs) have strict rules/regulations pertaining to rentals :) Good luck and have fun with your search! 

Now that we are past closing, I am unsure of what the next steps are in terms of what I need to do legally when inheriting tenants...I was hoping that a member of this amazing Bigger Pockets community would be able to help with some recommendations for investor friendly attorneys within the New Orleans area that would be able to answer questions related to landlord-tenant policies/regulations/laws.

Hi @Varouj Asdourian, different lenders will have different offerings as HELOCs aren't regulated by Fannie/Freddie like traditional mortgages.

I am fully aware of the regulations, we charge exactly what the tenant used.

Hard for a seller to accept a VA loan with tighter regulations on the home inspection when he has other offers that will be easier for him.

Might not be as tightly regulated here.I’ll try to put some stuff together and touch base with you.

Maybe this is strictly a West Coast thing, where the market has so long been artificially crimped by reams of local regulations and incompetent politicians?

There is normally not a huge distinction between them as it is a federally backed program so the regulations, underwriting, etc is pretty similar across the board.

There are federal and state laws that regulate what you can and can not do and how when raising capital.