There's also the fact that he works in banking and I work in tech, covering quite a range of differing skillsets and a diverse network when combined.

Combine this data with the increase of withdrawn sales and it may be more than a typical slow winter season and more akin with what market analysts have dubbed a seller’s strike.

Traditionally I recommend a house hack combined with a BRRRR, but your capital is low and I have concerns about the current RE market and associated cash flow.  

Probably because I legit LOVE what I do, I really do.Now, a very key point, I'm not a Top-Producer because I specialize in REI and that's extremally unique itself to be one of the legit few, I slay because I have a passion for what I do, I get jacked-up about negotiating DOWN a great buy to make it a ridiculously awesome buy even though it cut's my commissions down, because I'm a sick-twisted addict who can't stop my thrill of the hunt, lol.

Prices are still dropping and, because this is a unique situation, nobody can predict where the bottom is.

It seemed liked combination of an equity loan and HELOC.

The value of the land has very little to do with cap ex.Each property has unique cap ex cost.  

This combined with BAH will create great cash flow and we can get a price he can still afford the mortgage if it was vacant. 

Entertaining the idea of building something unique and smart for the Austin, Texas area or other parts of the country.

You could also do a combination of both.