I think knowing more numbers, heloc limit, plans and objectives for future goals all should play into "what is best".

If you put the 300k down on say a $1m multifamily, it's only going to get you a 2-family if you are lucky and rents in the range of about $7,000, again, if you are lucky.

For this project, that would mean targeting land in the $1.5 million range.

Is there anything in that price range in those areas that would be cash flow positive or break even at that price range.

Typically, DSCR rates are about 1% higher than conventional loans—not the 2-3% range you mentioned.

The deals west of 315 and east of Glenwood Ave are B/B- range depending on the street they're on.

This is going to range wildly from market to market.

That lower price range house that’s not a total tear down is not common though.

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If you get a little further out from LSU, you can probably buy in the mid $200k range and cut $200-$300/month out of that.