If you live out of town, the last thing you want is managing people in and out...it is not worth the possible drama or additional cleaning and troubles associated with short timers. This is not a forum to discuss law..unless lawyers start answering questions and disclose as such.
The secret to condo ownership in the French Quarter is to invest in slow, steady equity. This means buying at the right price...you are making your money when you buy, not when you sell...or try to rent short term..alot of risk for out of towners.
If you are trying to use a FQ condo as an investment property you will never make money...the numbers never have and never will work like what you can do with a 4 plex or even a double / duplex Uptown or in Midcity.
Need to know more about these areas? Visit my website at the link below and see real video of other New Orleans neighbourhoods