The taxes are low because he built on raw land, the assessor hasn't bumped it up yet. 

EnergyNo state taxesPro-businessPanama CanalPort citiesCoastal areaFarming area (farming was huge last year)Cheap foreign laborTech hub (Austin)Conservative politicsReligious coreHighway access (transportation)Centrally locatedYouthful and energetic (Austin, Dallas)Higher ed (UT, TCU, A&M, TSU, Baylor etcEducation (13-15 students per class)Cultural significance (New dream state)Affordable housing (American dream)Raw landSports (hunting, fishing, racing, NFL etc.)Theatre and artsPoliticsThis is not all inclusive but Texas ranks high or top in all of these areas compared to other states.

I am looking to do a cash out REFI or a Heloc on a piece of raw land that we own in order to finance building a shop on another piece of land we have.  

They'll generally lend on income producing properties only - no raw land, etc.  

That is the raw material of this business.One thing I will warn you, because you are a finance guy, is "don't over-analyze".  

I mailed out a postcard campaign to Marion County MS targeting raw land and I started receiving some responses for houses, specifically in Columbia, MS.

It's not that it is a gating item, but I show my commercial lender the financials and put emphisis on raw cash flow.

A single-family rental can be exchanged for a duplex, raw land for a shopping center, or an office building for apartments.

One has a raw canvas and you create a lifestyle for the next to enjoy.

When he received a call from the PM company telling him that there was a leak/flood coming from the bathroom with raw sewage.