HiI need more clarification on the BRRRR method when you use hard money initially to buy the property then refinance.

I am a contractor and my initial plan was to build a 1500 sq.ft. spec home but now have an option for a duplex as well. 

I am not really sure of the advantage of using the HELOC when you have cash that you would use for the same purpose unless you think you might be working on a second project simultaneously or shortly after your initial deal.

Deals  usually do not close on the initial date.

There was a little hesitation from the seller initially since they didn’t understand the process.

Finding a local reference point is a crucial reference point to make an initial connection.

If it's a competitive property then she is probably looking for serious buyers who won't initially giver her flack about the deposit.

Residential lenders require a 6 month seasoning period before you can pull out anything more than your initial investment ($60k). 

We are going to initially try it as a short term rental and see how that goes.  

Our upstairs space sat vacant for a few months and we initially planned to leave it that way.