I'd have an agent run comps. 3 smaller lots would do better but you also have to weigh the time/money it takes to separate it.

If I were you, I’d work to get up the DP and closing costs for a single family house near the university you will attend for med school, then I’d rent out the rooms to other med students.  

If anyone has more information on what neighborhoods are the best to invest in for the former, I'd greatly appreciate any knowledge shared!

I was planning on focusing on small multifamily properties (duplexes, triplexes, and quadplexes), but I'd be interested in hearing people's' thoughts on the best investment type for the area.Thank you for your time.

I know some great commercial agents up here that I'd be happy to recommend, but I'm curious, what draws you to the Retail/Commercial space? 

The first property is always the hardest to get into, so this is a huge step. 

I'd suggest starting by joining your local Real Estate Investor Association and attending any real estate meet-ups in your area.

Although I don't see anyone who knows the area moving to SA to commute to Austin.

If you are in the neighborhood of San Antonio, I'd be happy to meet up and share my experiences with you and willing to answer any questions that I can related to the zoning, engineering, permitting, etc. aspects of developing in Texas. 

Louis, so if you ever need certain recommendation to help you get started (lenders, agents, contractors) I'd be happy to help.