Thus, I have worked 2 jobs (1  is self employment) for 7 years to fund purchasing a few single family homes locally. 20k is not enough to purchase IMO, that should be your savings AFTER your purchase.

For a quick turnaround during the holidays, that rate might reflect premium timing.

Alternatively, once you have a full time job (or an employment contract), you should be able to qualify for a loan and utilize a Down Payment Assistance program.

(Available time, money, income, family situation, credit availability, time horizon, real estate market location and phase, medical situation, etc etc.)

can you refinance at the end of an interest only loan into another interest only loan?

Not doing anything to get better education or employment opportunities.

It is a great time to buy.   

I’m also open to exploring short-term rentals, private lending, or passive investing in funds—anything that maximizes returns while keeping risk and time commitments manageable.For context, I’d consider leaving my job if this could become a full-time venture that surpasses my current compensation (low-mid six figures).

Get SMLLC to start, you can elect S-corp when the time is right.This post does not create a CPA-Client relationship.

This has the obvious weakness of the unknown nature of future cap rates, but that's really the heart of your question here.Estimating future cap rate is part art, part science.