Investing in New Orleans

Hi guys, first and foremost I hope I am posting this in the right place. I recently moved to the New Orleans area and from what i have seen, I believe that there are great real estate investment opportunities here. However, i am very nervous, I have never invested in real estate before, i don't have ready cash to invest and i am worried about the right area to invest in terms of flooding. I would greatly appreciate any assistance and or advice that any one can offer.

Thank you

Miller