Duplex under contract

[Paul L]

I've got my first deal underway. Monthly rent $1600 total for both units. ARV 130K. Picked it up for 62k, and it needs ~20K of rehab. We close in 1 month. I'm intending to do the interior painting myself so that should save 3-4K on the rehab. My intention is to use conventional finance on this deal with 20% down, then refi as soon as possible and repeat the process. I've spoken to two brokers who indicate they can arrange cash out refis in 90 and 180 days. My problem with this is the closing costs, which are estimated at $4600 including escrow. Doing that twice in 3 months is a serious overhead. Any ideas on a more efficient way to do this?