New Orleans East / flood-zone pockets (deep value)

The lowest entry prices and highest paper yields in the city, in lower-lying areas with scattered post-Katrina reinvestment.

AE/VE flood insurance can erase cash flow, plus storm exposure, deferred maintenance, and slower recovery; advertised returns rarely survive the true insurance and NOI picture for a remote owner. Nearly all New Orleans property carries severe 30-year flood risk; in these pockets the flood/wind insurance and recovery risk rarely pencil for a remote owner.

Investors who understand that the highest advertised yields often come with the highest execution risk.