If you cash out 100% of your funds, you are most likely not going to cash flow with how high the rate would be. 

I'm curious if this uptick is due to many investors being involved in hard money loans and now facing the need to refinance, unexpectedly encountering significantly higher interest rates compared to a few years back.

This increase is due to a mix of legal work that has been done since the holidays and bigger economic reasons like rising interest rates and inflation. marking a cautious and important time for the market. 

With the drop in interest rates and the easing of the Fed's interest rate policies, there's an anticipation of a more favorable lending environment which allows investors and home buyers to be more considerate of buying properties.

I know construction loans have really high interest rates, around 11% , so is there any way around this??

Just a simple math:Let's say I buy a home for a million dollars, with 20% down and 30-year term    interest rate = 5%     +    property tax = 1%    +    maintenance = 1%    -------------------------------------------------    = Total 7% annual costs of owning a house Now, during the 30 years of owning the house    Average homes in American appreciate 5% annually     -     Inflation runs 3% annually    ----------------------------------------------------------    = 2% gain annuallyThose are just rough numbers.

So if you look at furnished finder etc to find travel nurse rents, and look at area long term rental rates for the area you are considering you will get an idea of what will work financially. 

This can build equity and potentially increase rental income through property appreciation.Another option is to sell one or more properties to free up equity and reduce mortgage debt, which can be useful for reinvesting or diversifying investments.refinancing one or more properties to lower monthly mortgage payments and increase cash flow could also be beneficial, especially if interest rates have decreased.the best course of action depends on the clients financial goals and risk tolerance

A mortgage payoff in 5 years at these interest rates is indeed possible. 

The “hype” hasn't even started yet (Kobeissi).Today’s Interest Rate: 7.16%(☝️ .02% from this time last week, 30-yr mortgage)Mortgage Rate UpdateMortgage rates are slightly higher again this week, to 7.16%.