Otherwise, I recommend option two, using a personal loan.

If a HELOC isn't an option due to Texas laws, you could consider a cash-out refinance with another property or a portfolio loan, even if you want to keep your current rate.

The advice I would give as a lender are these few options if you both are on mortgage.

We are trying to think of all our options for a rehab loan.

If you're considering purchasing under a business name, consult a CPA or attorney for setup and financing options.

What was the quality like compared to local options?

Feel free to reach out, I'm happy to chat and discuss options :) 

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

Are there any options out there that won't tear away the margin on flips?

I suppose something more turn-key could be a good option, but haven't come across many viable options there yet.Anyways, we still have a lot more to learn and still need to familiarize ourselves with the area/market, but just wanted to pop in to say hi!