Recently, I've encountered startups and companies offering quick EMD financing at high interest rates (around 3-5% per month).

I would not be eligible for a 1031 exchange, and when looking at refinance rates on 3% and 5.5% rates respectively, the numbers would not make sense to keep the properties and scale. 

Want to access equity but don't want to take on a higher rate.

Im assuming getting a lower refi rate would lower payments also improving my DTI Ratio ?

Minus potentially a small discount since it's an ADU?

But I would not recommend MF right now - they have overbuilt new MF here in Huntsville, and vacancy rate in MF is becoming problematic. 

Especially in today's interest rate environments. 

Alternatively, I could hope that my next assignment will be in a better market with more options, maybe lower rates, and more cash on hand.Should I accept that no market is perfect and get in the game now, or hold out for a year to enter a potentially better market with more capital to invest?

Given the current statement of market, interest rate, good turnkey providers , house prices etc…, would you choose memphis or alabama market to invest in real estate.

That will make all the difference in the rates.