@Paul PapamarkosI have never heard of this unless you have a subsidized loan that requires a repayment if you sell early.

Also the downpayment i am seeking would be minimum $20k and maximum $40k i would repay $43,000 if we refi upon 6months and $47,000 if we reach 18 months before a refinance. so a Flat 15% for 6 mo and 17% for 18 mo. 

As soon as I repay the amount I use?

Armed with the right knowledge and understanding, high cost markets become gold mines for the investor savvy individuals - this is anyone and everyone who is willing to put themselves out there to learn and network - thereby mitigating the mental and emotional aspects these unique markets tend to bring out in otherwise uninformed investors.

I think that would be the case if you had a unique property where there weren’t many comps to give solid data.  

I've seen investors that have only targeted 100 properties through driving for dollars close a deal, but their mail piece was very unique and the houses they were targeting clearly had distress.

I am thinking of using a conventional loan (to the amount I can qualify for) in combination with a hard money loan, then BRRRRing the property to repay the hard money loan (after a refi) and keeping my conventional bank loan.

I've lived in and visited a bunch of places, but western PA has some unique physical and historical features that lead to the SFR characteristics you describe.The chief one is that there is a disproportionate number of 1890-1929 SFR builds of exceptional, lasting quality out here. 

Projected borrow amount $125,00013 months repay loan at 12% interest rate       $1,153 Month3.5 pts $4,37510% down $12,500Thanks,Cameron

That's what we do...business HELOC on property #1 provides for cash offers and rehab, then sell house at end and repay, rinse and repeat, or you can rent out and refinance if you prefer to hold.