Hard money rates are really high right now, plus the rates once I cash out refi are high making it seem like the only option for me, but with the rates on both ends, just doesn't seem to justify.

Yes, House Hacking seems like the most ideal option when considering my first investment (open to other forms of ownership, such as live-in flips as well).

I Hope with this new perspective perhaps some new options have opened up for you! 

I am currently 21 years old and was recently hired with my dream job in Sarasota County (I saw that Sarasota wasn’t an option so I picked the closest.)

Real estate is not the end all be all panacea for building wealth, there are a lot of other options many of which will give you way fewer headaches than real estate will!

There is an incredible amount of points to consider when weighing the options on something like this and honestly, I don't recommend it to very many people at all ....even seasoned tradesmen and investors.

Maybe selling is the best option stop the bleeding and do something that is more risk adverse. 

Would a DSCR loan be a better option than a hard money loan for this project?

Many good rental options in San Antonio/New Braunfels area.

The “borrower” would have an option to buy back the property if (1) all lease payments (“mortgage payments”) have been made and the borrower/seller pays is the sale price/loan amount in full at the time the option period/note matures.