This would allow you to access some cash for other purposes ( Tax Free) because a refinance is not a taxable event.

At the same time, you would like to maximize your investment until you move in F/T.

You usually can do these loans with NO points, you just need to work with a broker who has access to dozens of lenders as there are plenty of lenders that can provide these type of loans with No Points. 

Being local affords many conveniences based on access and your knowledge of the area.

Unless you have some sort of subject matter expertise or access to an unfair advantage (cheap labor, ways to source off market deals, etc.), index funds are likely to provide an equal or better return with a MUCH lower hassle factor and more liquidity.

Hi Dean - we had access to a DSCR product until a couple weeks ago - it's currently paused, per my conversation with one of the loan brokers I work with. 

As a college student landlord you may have interaction with parents & if they find you unprofessional that may raise red flags, but if you have your s**t together you can ease those concerns.I am a big fan of college rentals.

On top of that you get access to their team of contractors/handymen etc, and again, projects are managed by professionals who know how to operate co-living.

In Texas we can go inactive, so no Broker, no selling, no MLS access,  but you still have to keep up your education CE hours and such. 

On balance I have made way, way more money from appreciation that I ever did from cash flow.To me the most important consideration is to always have money or access to money, never be forced to sell.