Yes, contract for deed is a good alternative -- but not in Texas. 

Look into other options, including house hacking, as alternative ways to get started in Real Estate.All the best to you on your journey!

There are pros and cons to both approaches, so I would love some input here :) Alternatively, if this doesn't seem like a good enough deal in general, please let me know what you think!

You will also attract quality tenants that will make your investment safer and headaches-free.Economic Stability: Katy has a low percentage of foreclosure and pre-foreclosure homes indicates economic stability and a healthy real estate market, which is vital for investor confidence​​.

Or, is there some other alternative?

Alternatively, you can wholesale and use that amount to start marketing.

Next I would consider alternative uses for the land, and market the sale toward those uses.

However, it allows you to use the vacant rents of 75% market rent as an alternative income to help the borrower to qualify.Happy to connect and assist you in your real estate investing journey.

Alternative strategies include financing in the LLC's name or using house hacking to generate rental income.

Start with safer bets and slowly get braver to beat fear and win in the property game.Good luck