Question regarding the BRRRR strategy.

[Luis Peguero]

So I'm a 21 years old learning the dynamics of real estate property holding and investing. I'm having a hard time understanding the BRRRR method and how your PML gets paid back.

OK so for example...

Let's say I need 100K loan from a PML for 12 months, interest at 10% with 2 points. From my understanding 2 points means I have to give 2K upfront. So where I'm partly confused is now during the rehab am I only paying the 10% percent interest only? Or the whole loan of 100K plus the 10K of interest for a monthly total? Next is after I refinance for the 70% appraisal value, do I get a big check from the bank of 70K? And if I did how would I pay back the PML because that still wouldn't be enough to cover my original 100K Loan. Help I'm so lost lol. Thank you!