She also wants a luxury car (i.e. lexus/infiniti).

My two options are University of Kentucky, where I would double major in Finance and Marketing (I would also be able to room with my best friend) or Western Kentucky University where I would either major in finance or marketing, minor in entrepreneurship, and get a real estate certificate (which would give me the requirements to become a broker, I would just have to pass the exam) (i would also have to room with someone random I don’t know).

This is a lot like saying why doesn't someone who invests in fine art, come out to a Barret Jackson auction and pickup a '69' Fast-back GT. 

I am currently studying for my bachelors at a mediocre school in Finance but I feel the industry isn't very lucrative (at least early on).

I've been informed by the seller (who did this as a rehab and is a licensed general contractor) that he did the electrical himself to save the money and he didn't get permits.Trouble is....I think it might be too late for me to renig on the contract because of the clause "you have X days to respond to the seller to get all repairs done".Do I run the risk of paying a crap load of money in fines here?

He's got a background in finance, in addition to his years investing and brokering, so he really ties everything together.  

Use it to infinity, but never spend it. 

Purchase price: $412,000 Cash invested: $100,000 Custom building a 3/3 shipping container home with a rooftop deck and shipping container pool for STR near Branson and Table Rock Lake.

Your ROI is essentially infinity because you have no cash (after refinance) in the deal.

If you're doing it for convenience, they will take it, and it doesn't cost you an arm and a leg in finance costs or advance fees, why not?