A local bank should have a better grasp of what they are financing and more willing to offer other options if the loan doesn’t meet secondary market guidelines. out of state lenders may or may not have an understanding of local markets, or, private road agreements, etc. and can slow down the process.

There should be no REI who does not understand this dynamic, considering it is how we make money investing (tougher to get a "normal" person to grasp the concept). 

I can share my formula and the wholesale calculators that I have made but unless you have a good grasp of the numbers these will do you no good. 

I'm currently working to convert one of my rental properties into a duplex.I have worked in construction for 10 plus years and feel I have a good grasp on what needs to be accomplished.

Sounds like you have a good grasp on that, but a lot of people lose sight of that when choosing an agent. 

Im trying to grasp this fully because it sounds like something that I'd like to utilize also but I'm having a hard time fully understanding what the refinance section means.

I would be careful to make sure that you have a firm grasp from rents.May I ask, what makes you so sure it will rent for $4k easily?

You won't get a firm grasp until you are doing houses.

I am someone who really wants to grasp a good understanding of the markets, research, and management.

A lot of people get started in real estate without really grasping the consequences and the sacrifices and work involved.