If you can save money and renovate and the ARV allows you to pull your intial capital out sooner, I say go for it!

I have some money in my savings account but not a lot.

Would like to make at least 60k per build with intial list price at 399,9k that can fall to 360k and still make money after closing cost and realtor fees. 

Most people are refinancing a BRRR because they are in short term debt (like 12 month hard money used for purchase +rehab financing) or own the property free and clear (they bought all cash) and would get a higher return on equity by leveraging the property and reinvesting the cash out proceeds of the loan to scale the portfolio. 

Hard money is a great financing program to get you going.

Hotels lose money with no guests.

It isn't refinancing to take out money that I have a problem with, it's "cross collateralization".

I believe if people make money and there is sufficient housing supply, housing will become affordable. 

Interest rates NEVER matter and you can make money all the time.

They should be found early on by talking to other investors or your investor friendly Realtor.It is through effective property management that your money is made besides buying well initially.