If that's the whole purchase price of the property, and there's no rehab costs, and you have healthy reserves, this works in theory.
If it's a down payment on a mortgage, it won't work (as they don't want those funds to be borrowed, and it could significantly add to your DTI).
In reality, it's probably too risky for me. I've done some various credit card arbitrage, but you don't mention what your reserves are, besides "which does not include my personal emergency fund or rental cash reserves".
If you had the whole purchase price, say 20k saved up, and you decided to use a CC balance transfer to fund it for a year to purchase early, with those reserves as backup, okay, cool. But without a huge cash cushion, if something goes wrong, suddenly you're paying 18% (or whatever). Not worth it the risk of that happening, IMO.
Slow and steady wins the race. :)