Approach local lenders for a what exactly? 

@Richard Edgar doing a cash out loan on land is EXTREMELY hard...I might even say impossible...but I can't speak for every lender in the country on this though. 

You just need to work with the lender and show that you can afford a down payment and the monthly payments. 

Second, identify the type of property they demand (ex. well-built townhouse or duplex, with on-site laundry, amenities, built 1980 to 2010, private entrance, etc..). 

The IRS considers it a loan, just like any other, that represents potential interest income to the lender (in this case, you).

My lender just started offering their notes for resale to private investors and has 100s to choose from all over the country ranging from 8-12% ROR monthly, currently from $62k-620k, in all areas of the country.

Has anyone delt with a hard money lender then financing at the end to a traditional bank?

These are all preliminary questions a lender would ask to vet our your file.

Too many lenders?

Hello I'm curious if this strategy is theoretically possible to expand super fast wealth as below:For example, I buy a rental property for $70,000 in cash and then immediately did a cash-out refinance to get $56,000 in cash (I know usually it takes 3-6 months season to cashout refi, but as long as one lender is able to do refinance it) I then use $24,000 of the $56,000 I borrow as a 20% down payment to buy a $120,000 rental property.