I actually ended up having to close the line shortly after establishing it to refi my first loan on the property because they couldn't get a subordinate to request done in a timely fashion.

If it makes more sense as a flip, you could always sell it to a wholesaler or take on the project yourself with an investor in a similar fashion.

I would split the rent with the owner in some fashion.  

@Sherri Silvestre you usually need 30%-40% down payment to finance vacant land in that fashion.  

I think if your realtor adjusts their MLS search they can find those rehab opportunities that you can even still lowball on the old fashioned way, and the lowball will give you your rehab budget. 

Anyone who believes that Austin is headed for a major correction or sustained lower prices in the foreseeable future needs a compelling and realistic case for how the Austin metro goes from 0.6 months of inventory to well beyond 6.5 months.I think the most likely scenario is that the Austin market stabilizes and proceeds in a more orderly and predictable fashion at this new pricing level.

Recently I’ve been having trouble finding ways to improve my credit score in a timely fashion.

That doesn't mean it will appraise for that, but if it does and you can swing the payment in any fashion, then it works. 

Usually full address so you can get in  touch with owner the old fashioned way - snail mail.  

These prices appear to be the “new normal” and will very likely continue higher, albeit in a much more “orderly” fashion.