I am new to real estate investing and was looking into taking a heloc on my primary to purchase land and do a construction loan.

I do agree that mechanical upgrades are a good idea if necessary, those are almost always a safe bet for ROI and resale-ability.

Quote from @Thomasina Pearce: Quote from @Gladimir Lobo: Heading downtown to try your luck at Jack's is a much better bet.

@Mike Musarra  If you plan on doing a BRRRRR your best bet will be refinancing into a DSCR loan.

With new construction, comes more competition.

I do and I can say it has great potential for new construction and existing properties.

Purchase price: $540,000 Cash invested: $108,000 Investing in South Texas offers additional benefits:•Affordability: The price per square foot for new construction in South Texas is among the lowest in the country, making it an excellent value for investors seeking high-quality properties at a reasonable cost.

This is commonly called a reverse exchange or a construction or improvement exchange. 

Including acquisition and construction ? 

A common issue is supply and demand effected by population changes, construction, economic issues, the job market and location.Personally I haven't seen vacancy issues at this time,  but I have gone through cycles of vacancy issues.