...real estate to rent out 3+units less than $180,000 good idea or not? I am just interested in how hard is it to rent out a unit there and if it would be to my advantage to buy property I could fix up and rent them out. Or if property prices and taxes are too high so that it wouldn't be a real bargin. thank you!

I'm not from that area, but in my opinion you don't want to ask someone about this, you should find out for yourself. First, do you know how much you qualify for this type of a loan, and do you know what kind of interest rates you will be getting and what the payment will be? This should be a major factor in deciding if you will buy or not because this will decide if you will be making positive rental income or not. If you are paying with cash then there is nothing to worry about. If you are wondering about the taxes, call a title/escrow company in New Orleans and ask them about how much the taxes would be. Also, do a search for the local papers over there to get a good idea of how much similar properties are renting for. If you are making positive cash flow you should definetely go for it, there's nothing like having renters pay off a property for you! You can also go to www.realtor.com to check for other comparable properties to see if it is priced right. Navigating through this "answers" site I have been amazed at how much bad/inaccurate advice is being given out. Be careful!

I live in the New Orleans area. Housing is SCARCE right now. Many people are looking to rent, possibly short-term (12 mos. or so). Property taxes are not that high, at least they weren't before Katrina, but then again, our streets, public service, and schools suck.IF you find any units, chances are you'll have to do some fixing up. Need a contractor? Get on a list and wait 3 or 4 months before they come out. Doing it yourself? Stand in line at Home Depot or Lowe's for an hour or so for each trip - IF they have what you want.I am not trying to discourage you - contrary to what you may think - I just want to paint a realistic picture for you. My children's school just had their roof replaced from hurricane Katrina - in MARCH. Times are tough... but we need people to help rebuild with us... and have lots of patience. Good luck.