I have heard that interest rates for a DSCR loan are generally 1-2% higher than conventional loans depending on the LTV ratio and credit score.

Austin’s a different beast..there’s a mix of tech money and old-school homeowners who appreciate a certain flair.

Say, 3 month later, I decide to do a cash out refinance of the replacement property at 75% LTV because the rate is lower.

If that's not the monthly income, you are arriving at your cap rate by using incorrect expense ratios/expense figures and/or the property benefits from an extremely favorable tax abatement which skews the operating costs.

Currently talking to local schools and realtors.

I need credibility, either through working for a couple of years for a company or buying my own property, starting small, and scaling with time.Now, my plan is to graduate next year (Im a junior), and get a job in a firm as an analyst in order to build that experience and mainly cover my living expenses, while on the side buy my first small property and go from there.However, and this is where I start overthinking,  I still have 1 year left in school and I want to use it to my advantage as I don't have any expenses or responsibilities other than school yet, and I want to do my first deal.

Say, 3 month later, I decide to do a cash out refinance of the replacement property at 75% LTV because the rate is lower. 

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

But I am open to ideas.I see this environment as quite challenging to find a deal that will cash flow reasonably well in my area due to HCOL and interest rates (even as somebody with some resources). 

It potentially can be possible if you provide your capital to a fund who operates as a private lender.You would have to be a non-managing member in an LLC or an LP in a Partnership.Therefore, you would have no say in items such as who to lend the money to, at what rates, etc.Best of luck