Like buying not necessarily a fixer (because everyone and their brother is looking for fixers) but a decent home that could be transformed to increase appraisal. 

I have a decent amount of startup capital, and my day job pays well enough to help fund my RE endeavors.

Good luck in your future endeavors.

Should I refinance , live in and transform the property for a year and repeat refinance when interest rates drop later then rent?...

Best of luck to your future endeavors! 

However, this is only a part time endeavor as I start to transition from my rat race job.  

I wish you much success in all your endeavors. 

I am embarking on it as we speak, but we are doing a New Fourplex Development, and there is family and friends and we going to venture out from there...If I missed something then you can come back to me, I hopes this helps in some ways, or others may read it and can elaborate more, make some other points, on the matter...Good Luck to you in your venture and endeavors....My name is Vel be the way!

Good luck with your endeavor.

the get rich quick is la ie , real estate is a long term , strategic endeavor.