I have two single family rentals and am thinking about refinancing.

You probably won't have survey requirement because you can re-use your old one, and usually you get a credit for title insurance if refinancing within 2-3 years of your original purchase.  

I like the 5% conventional over fha because you can drop pmi once you have 20% equity without refinancing and the appraisal inspection requirements on condition are less strict. 

We have a interest rate around 3% on the SFH, purchased in 2021, so doing any refinancing with that doesn't seem to make sense.

Hi Amanuel,This depends on your strategy but if you are looking to purchase and rehab to add-value before either (i) flipping or (ii) refinancing, you can likely find a product for 15-20% down, perhaps 10% if you're creating enough value.

Then refinanced into conventional after rehab at 6 months.

Ideally, I wanted to buy a property without a loan and do the BRRRR method, do to not many decently priced properties in the area that have some potential to remodel or add an addition to for adding more value to the property then cash refinancing after renting to move on to the next one.

But I guess a lot of you seem to think that extra cost is negligible if I am refinancing anyway.

Small Business Administration (SBA) offers 7(a) loans to small businesses for a variety of purposes, including purchasing owner-occupied commercial real estate, refinancing existing debt, or financing equipment.

I would just check with your lender to verify that the property will be eligible for refinancing after the construction loan.