Email me what cash you are working with, and I can find you:
1) The land
2) The deal on the land
3) The bank to finance what you want to build
4) The bank to finance a renovation
5) An insurance company or two that will suit you best for what you want to do
6) Renters or buyers when you are all done..and done right like Mr Walker suggests
I would focus finding a home in the Lakeview 70124, Mid-City 70119, or Gentilly 70122 area.
Make sure your rehab is equipped with 3 bedrooms and 2 bathrooms, granite counters and a jetted tub. Don't 4get about the jetted tub. Once you finish your project make sure to budget some landscaping and you will be good to go.