@Nick Gerli the Austin MSA has an extremely low housing inventory at present so increased permits would be a relief for many buyers who are competing for available inventory.  

You would also not have to pay capital gains doing this, so it could be much easier with potential timing, as well as allow you to borrow at the extremely low rates now. 

There are so many questions answered here...an extremely valuable resource!

Seller was extremely motivated.

OK, not seeing this as the end of the world, but there are some troubling things (based on what I see in Portland and watching news):1) No inventory means in PDX people are reaching beyond FMV on housing and abetted by cheap loans2) Debt service issues - I'll take the extreme, look at retail in NYC, there's lots of space empty at $80/SqFt.  

Its extremely helpful and I appreciate you taking the time to respond.

And extremely unlikely your going to tie up multi million dollar land deals if you do not have POF and some serious deposit money . 

Bought a house in Brantford before the market exploded and want to BRRRR a property, but it seems extremely difficult to do given the cost of houses here.

I know enough to “get myself in trouble” I’d say and extremely confident in our ability to generate business despite a saturated market.

Answering this question is quite simple.They sell their house, now they have to buy another house in the same extremely competitive market they just sold in.So many of my neighbors are selling and "upgrading" their homes because it's a great time to sell, BUT it's not a great time to buy.