Focus on neighborhoods near employers or schools, and explore slightly outside Austin for more affordable options. 

Here are a couple of ways you could structure the deal:Lease Option with Seller Financing: You could lease the property with an option to buy later, allowing you to rehab it while giving the sellers time to find a 1031 replacement property.Seller Financing with Deferred Payment: Structure the seller financing with no immediate payments, allowing you to refinance once the property is appraised, and the sellers can complete the 1031 exchange when ready.Escrow Holdback: Transfer the deed into an escrow account, giving you control without immediate transfer, so the sellers can take their time with the 1031.Third-Party Facilitation: Use a qualified intermediary to hold funds and facilitate the 1031 exchange while you refinance.These options allow flexibility for both you and the sellers.

Once I get the homeowner to sign the assignment,  do you want to be the first option to review the numbers and possibly buy ?

Keep providing value add options for your owners & they'll keep knocking.

Quote from @Dean Sexton: There are benefits to both options.

I’ve realized I need more passive options, and have moved to a syndication and private lending.

I would possibly look into some other options in the regions.Good luck!

These programs offer options for less money down and in some cases DPA - Down payment assistance.As a banker for over 18+ years I am very skeptical when I hear a new name in the business only because its become tougher to lend with all of the new laws and credit/insurance requirements and regulations.  

Use extended closing periods or additional earnest to buy more time for your old property to sell if you need.The last option is what's called a reverse exchange.

If you move, renting in NYC and buying an out-of-state property could work, but make sure you have a solid plan for managing it.If you stay, buying in an affordable market and living there for a while could be a good option.