Keep your current house as a rental if you can. That way if things don't work out you've got something to fall back on. I also wouldn't try to manage it as a rental property myself. Have a property management company manange it for you. Shop around and see who will give you the best deal. They usually want 5-10% of the monthly rent to do this for you. You can also cash out some equity for a down payment on a house in NOLA or you can rent for a while if you are unsure how it's gonna go. Either way, you still get the tax write off for the interest paid on your mortgage(s).
Good luck to you.
