As @Carl Millsap said it depends on how much more in rent you're getting compared to the costs of renovating.

Have a purpose for the land.  

Properly structuring your bank accounts ensures that every dollar in your business has a purpose.

Very few Austin postings compared to DFW area.

The purpose of investing in a syndication is to leverage the sponsor's time, expertise and ability to source great deals, but if the experience is going to cause you to lose sleep at night, the return may not be worth it.

.- Analyze Comparable Properties: If you’re working in a specific market, reach out to other landlords or property managers with similar assets.

You don't want too many properties in any one LLC for liability purposes. 

However, DSCR Loans are also strictly for business purpose only, so don't work for house hacking (can't live in any of the units) and if refinancing into DSCR, would have to have moved out and well documented a new residence if you go that route

Unfortunately, I see many HML marketing where they portray themselves as a PML (whether purposely or not) confuses newbies... 

As others have mentioned, the rate will be higher compared to a loan with a 5 year prepayment penalty.