text: i'm thinking of investing in new orleans 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 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.