during the draw period (typically) you won't even be paying down principal unless you make extra payments.so unless you have cash i would wait. 

Kitchen:Demo & Prep ($2,000):DIY cabinet removal, backsplash removal, and some demolition.Professional for disconnecting gas lines and major plumbing.Dumpster rental.Cabinets ($6,500):Option 1: Refacing existing cabinets.

Quote from @John Underwood: Are you sure it's not $600 extra per year?

Based on the fact that new construction is currently at a relatively low premium when compared to existing construction, I think this strategy might be a good option.

That said, with today's rates, every increment of extra mortgage is way costlier than it was four years ago during the sub-3%-rate Covid days. 

The northland MAREI meeting and the main monthly meeting at MAREI have a minimal fee, or for $99 a year you can attend all of them for no extra charge - northland is in person, the main meeting is still online, both are great ways to connect and learn. 

We are considering the following options:-I purchase the property from my aunt – Perhaps we can do seller financing to reduce fees?

A cashout refi of the current loan on one of the properties may be an option.

Adding the 1 & 2 bed option is a great start, have you looked at pricing and dropping it further than your peers?

In Real Estate, TIME IS MONEY.Getting a rehab loan done quickly is worth paying an extra few points in order to be efficient as you will be able to expand your BRR business which would yield results greater than the increased cost of capital that hard money brings.In order to escape a scarcity mindset you need to understand that money is in theory unlimited, they print it.But can you print time?