I have managed to get myself into a bit of a complex situation on my first deal and I'm looking for some advice. 

My wife and I bought a single family house in Texas a few years ago.

i will only buy if i have some way of keeping my overall expenditure low - for example, BRRRR. 

NY is out of my price range as well.

Those are the 3 options I have in mind, what would you do in my situation?

Read my Utilities 101 below to see some options.

Quote from @William Dorrough: I currently either purchase and value add large scale multifamily properties or develop, and build ground up my issue with scaling is we have done this without brining in investors i have a great deal flow with a good track record im really looking to do more i have the capacity but have the need for more capital in one way or another  Scaling without investors can be tough, especially in multifamily.

. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

I'm 53, married with 2 kids less than 17 years old with debt only from purchases on credit cards and my home.

I'm at the point where I believe I'm ready to start my journey.