I've called through at least a dozen banks and credit unions - and so far PenFed is the only place I've found, but their rates for non-owner-occupied are significantly higher.

Having your RE license allows you to have access to the MLS and other benefits.

This product is suitable if it exists in your state; however, you have to have 720 credit score well at least here in the states of MD.

I will get to benefit from all of the tax breaks and benefits of being an "accredited investor" if I want 20 years from now.

As long as you have good credit and your income can support it (DTI) go to a local bank for financing.

you can use the proceeds to purchase two different properties and to secure the full 1031 Exchange Benefits, you need to ensure the combined value of both properties is equal to or greater than the relinquished property, less reasonable closing costs, which does not include the payoff of a mortgage. 

So raising money via other people and using other means of leverage like bank loans and credit cards are the other thoughts that come to mind.

My credit and income are solid.

(I will be taking 9-12 credit hours a semester for the next four semesters).

So, I agree 100% that I need to weigh the costs and benefits and know the risks.