Wonderful article! Although many colleges do raise their eyebrows at applicants who have transferred multiple times, I’ve found that it’s all about the story that the applicant presents – were there good reasons for transferring, how much time was there between the transfers, etc.
I think it’s also important to note that students who successfully do this mostly likely have excellent academic credentials. A sub-3.0 student from Kenyon most likely is not going to be able to transfer to Vanderbilt and then Georgetown 