I am looking for a solution. I'm thinking of a locally hosted socks5 proxy like TOR has, but instead of TOR, this self hosted proxy can be configured to rotate through other remote proxies that I have access to
I think glider can do this, with -strategy rr (Round Robin mode). I have not used it in this way myself, so you might need to experiment a little. Proxychains can also do this, but it doesn't present a socks5 interface itself (it uses LD_PRELOAD, so it won't work everywhere).