Construction/Cash-Out Refi Question

[Andrew Wicks]

My partner and I are looking to build townhomes to hold as rental units.  We will need construction financing for the builds and want to do cash-out for the mortgage.  My question is should I spend the time hunting for conventional financing or is something like this only available through hard money lenders? We have located a couple prospective lots and intend to put an offer within a week and I want to get moving as quickly as possible.  My partner will handle the financing is retired, has excellent credit, and available funds for deposit.  Any input would be appreciated.