If rate is your primary concern then a conventional loan could provide what you need.

NACA, Bank of America down payment assistance, FHA, 3% down conventional.

I was under the impression that conventional lending will not be able to provide rehab loans unless the property is owner occupied. 

Most GOOD PMCs use standard naming conventions for their documents.

The bridge loan can also include rehab costs and can be interest only payments during the rehab period.The downside is the interest rates may be a little higher than a conventional lender. 

I recently got into my first deal with a private lender in where he was willing to co-sign a conventional loan with me and fund the rehab of my first house hack for a percentage back. 

I was initially wanting to receive a conventional loan and pay a downpayment in cash from savings and buy and hold properties. 

However after crunching some quick numbers, I’m trying to understand the benefit of a cash out refi vs just getting a conventional mortgage.

Conventional home loans are the closest thing to free money as there is. 

Others will let you put conventional mortgages on 10 properties.There are also banks that lend on 20-30 year terms as portfolio loans which means they don’t sell them to Fannie or Freddy and therefore there is no limit to how many you can get.Another Avenue is commercial lending.