However, pricing in Austin is still substantially above pre-pandemic levels.

Even if it's a total rehab if the land bank has a property in an area where the arv's are substantially high wouldn't that be a good deal or a promising neighborhood for buy and hold.

when you purchase a property, there are closing costs on top of the purchase price, and closing costs can be substantial - especially if there are points on the loan. 

However) Explain to them you are planning on renovating to meet market demands and you will need to raise the rent substantially.

Is this a conversion that will also require substantial renovations?

I’m hitting a bit of a roadblock when it comes to funding.I’m eager to start building a portfolio, but being young and not having substantial savings yet means I’m looking for advice on how to secure capital to get started.

If you have had it a few years I would imagine the value has increased substantially. 

One of the things I learned early is that the margins on a deal need to be substantial. 

If you do find that the costs to maintain the investment property are too substantial and you'd rather sell down the road, it would qualify for a 1031 exchange since the property was held for investment use.

.- High risk - Time-intensive - Requires substantial capitalBRRRR:Pros.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.