Two of my favorite gurus - Gary Keller (old) and Taylor Welch (younger) have both echoed the sentiment: "We totally under-estimate what we can accomplish in 5-10 years, while over-estimating what we can do in 5-10 minutes/hours/day."  

Basically I think that a lot of the downside in New Orleans is already priced in and the sentiment is so bad that it doesn't take much to get it improved.

A lot of it comes down to a disconnect between what a property is worth and what a seller believes it’s worth.Right now there’s a lot of uncertainty in the market, we see it in the bond market, the job market, and overall consumer sentiment.

And I agree with this general sentiment.

Here’s the breakdown 👇🏗️ Home Builder Confidence Reaches Highest Level Since AprilBuilder sentiment jumped 5 points to 37 in October, according to the National Association of Home Builders — the highest reading since April and a welcome change after months of stagnation.All three index components improved:Buyer traffic: up to 25 (+4 points)Current sales: up to 38 (+4 points)Future sales: jumped above 50 for the first time since January📊 Bottom line: While we’re still below the 50 mark that signals true expansion, this is a big step in the right direction.

Market sentiment has shifted decisively toward lower rates, with investors responding to a combination of geopolitical relief and renewed global uncertainty.

I agree with the sentiment that while it may not be illegal, it's not exactly ethical.  

Suffice to say my relative is not guy and he's basically going to donate all of is a state but for sentimental reasons he'd be happy for me to take over his properties as long as he feels like he's getting a little something out of it.

It might depend on the amount of equity, whether the property is sentimental to any of the heirs, etc.

I agree with the sentiments shared above.