My family consists of my wife and three kids, and I’m currently the sole earner.

If you can add a legal ADU at $25k in the Austin area then you should add it.  

1) Renting garage units2) Additional Pet Fees3) Adding flooring insulation in the upper unit led to improved efficiency and sound reduction for lower tenants.

Additionally, it's easy for a house on one lease to get absolutely trashed by the renter.

If the price was right on Turn-key maybe, but probably more of the fixer-upper that can be leveraged later on for additional property or sold for a nice profit. 

In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable. 

I've got about $525K in equity in the property, but lenders have told me that I cannot get a HELOC to access that equity for additional purchases because the duplex was financed as an investment - they have said TX law dictates that HELOC can only be used on primary residences.

Great option for buyers financing with VA, FHA, conventional, DSCR, or cash of course (no seller financing).The listing will be available starting in mid-February and most likely won’t be on the market for long so shoot me a DM for additional details and I’ll be happy to chat!

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

Ok it might not be 1:1 but it will add additional revenue.