That way you have built in equity. 

Well it might not be flawed for you and congratulations on having $150,000 in equity.

Given that you will very likely have at least 20% in equity by completion, that's thousands of dollars paying for unnecessary fees for the life of the loan. 5% conventional would solve this with many lenders by doing an appraisal to drop PMI.

I have 3 houses in Marietta . 1 with no mortgage and 2 with over 100k each in equity that I would like to understand options to redeploy.Thank you!

Now the home is worth $250K = $175K in Equity). 

You just paid $7200 for $170k in equity over three years and then you start cash flowing.

Serge I would assume you are more interested today in equity growth then cash flow.

Currently, I am interested in 3/2 SFHs in above average school districts that cash flow, have built-in equity, and have appreciation potential. 

The point of the BRRRR is to be able to Refinance and Repeat, so for round numbers if the purchase is $100k, the construction+hard money, etc is $60k, and after finance it’s worth $200k then you have $40k in equity and can “refinance” out 70% of that, so $28k to “Repeat”.

You definitely don't need to be a millionaire to get started, you just have to get creative :) I was speaking to a lady today who owns a $450k home, has $250+ in equity and $100k in cash and thinks she doesn't have enough to get started.