This makes the numbers easier than a traditional rental in that you don't have to account for these expenses.Another question... 

Therefore people purchase with hard money, rent the property out, and refinance out with a more traditional lender once the property has been seasoned a few months. 

I don't think traditional lenders are making construction loans here right now. 

Still a major savings from the traditional format with agents, banks and escrow companies.3.  

is there a way to get a traditional mortgage?  

Would a traditional commercial bank touch a property like this with as much work as it needs? 

Quicken loans is not horrible, but using a local lender, especially for more non-traditional lending situations, just makes sense for a number of reasons.

They don't act like a traditional, emotion motivated seller.

We are ready to get off the ground and we have decided to go with reverse wholesaling or traditional wholesaling.

Something that would get my attention is a lending firm that would offer a low, fixed interest loan to an investor backed by property without having to go through as many of the hurdles one would have to go through when dealing with a traditional institution.Right now I would like to consolidate about 68k in high interest debt using property as collateral but I don't have the 15-20k in reserves needed to qualify for a HELOC or cash out refinance with a traditional institution.