BRRRR, HELOC, and financing questions

[Paul C.]

Prepping for my second property purchase and need help with deciding which financing route to pursue. My goal is to be able to pull all/most of my money back out using the BRRR strategy so that I can keep building my portfolio. My situation: $135k HELOC, ~$5k in cash, and good credit score with steady primary income as a Financial Analyst(meaning I should probably know this answer haha). I am looking at buying a duplex - quadplex from anywhere between $200k-$400k and was planning on using some of the HELOC to do any renovations required. My question is should I go with a conventional loan up front using my cash and little bit of HELOC for the downpayment, then renovate, and refinance OR should I use a hard money loan and/or some of the HELOC to do the same thing, renovate, and refinance? Are both of these scenarios even possible?