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

I'm constantly reading on BiggerPockets investors saying you need to buy rental property, break even, and hope for appreciation and/or lower rates in the future to cashflow.

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

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.

But from 2020 through 2023, we experienced a market imbalance fueled by a number of factors:  Revenge vacations resulting in not enough supply, cheap money, and lots of sunshine pumping by "seasoned" real estate pros.So if you bought in 2019, it's likely that today's numbers are working out quite good for you.

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

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?

That will make all the difference in the rates.

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.