Hard Money Lender for Rehab?

[Joshua J Cawthorn]

Howdy! I recently closed on my first duplex (second property!) and it is in dire need of rehabbing. Which is exactly what I wanted! I bought for $700k and the comps in this neighborhood support $850k+. Currently, the plan is buy and hold. 

This duplex needs about $50k in repairs and I'm considering using a hard money lender to fund the rehab, then refinance and pay them back. The way I see it, this comes with at least three potential set backs:

1. The appraisal could come back lower than anticipated;
2. The rehab will inevitably cost more than projected; or
3. I'm not able to get as much in rent as I would like.

I'm wondering if anyone has any experience using a HML for a similar project, how it went, if you have a HML you'd recommend, and what advice you'd give someone who is considering this plan.

I just have to say: the BiggerPockets community has done more for me and my portfolio than over a decade of financial advisors. You guys are sincerely the best and I appreciate you taking the time to give some input!