Can you get a bank to refinance hard money loan

[Rob Blumenstein]

So I have a question for anyone that has worked with hard money and got it re-financed by the banks.

So my plan is to have the money for the down payment for my first rental, then proceed to get a hard money loan for the remainder of the purchase price and the rehab. Then my plan was to add value to the property via rehab (Cost covered by the hard money) then to get a tenant in there for a 1- 2 year lease. 

My overall question is would the banks be willing to refinance the property with the equity built up in there and the signed lease so I can get the hard money paid off and still have the property with the tenant paying me the cash flow.

If anyone has some tips and tricks and or knows if this works that would be great. I am an agent in the suburbs of Chicago and want to get my portfolio started.

Any help is greatly appreciated.