We need to close by 4/1 to avoid a large pre-payment penalty with our current lender. 

Make sure you’re working with a lender who has experience with 203(k) loans and a contractor who understands the program’s requirements.2.Loan Process Can Be Slow – Unlike a standard mortgage, the lender will be heavily involved in the renovation funds, which means more paperwork and potential delays.3.Strict Repair Guidelines – The work has to improve the home’s safety and livability, so luxury upgrades usually don’t qualify.4.Living Through Renovations – If you go with a Limited 203(k) (up to $35K in repairs), it’s usually manageable, but for a Standard 203(k), major work might require you to live elsewhere for a bit.It’s a solid strategy, just make sure you’re working with the right lender and contractor so things go smoothly.

Yuck.If you do the math, a typical private/hard money lender will end up with about 25 to 33% of the profit on a flip.

I do not have a ton of capital so I would have to use a hard money lender, (who I have already met with). 

Now the seller has to convince his lender that it's a safe bet to lend money on to buy the house.

So numbers are spot on, those saying they have lenders giving them money on bridge at 8-9% are those private lenders using own funds, if its institutional money etc. its much more expensive.

Quote from @Dan Farsht: I am looking to connect with other hard money lenders in the upper Midwest (our business is currently concentrated in the Greater Milwaukee Area). 

depends on timing, seasoning, rents if it's on a DSCR loan. talk to a lender. 

I was thinking a bridge loan might be an option , and then refi it later and pay back the bridge loan,  but I'm waiting for lenders to reach back out and run some numbers.

Podcast is the first thing you can start listening to understand all the relevant terms for real estate investment.For initial deals, BRRR is little bit difficult to get started without lining up the lenders.