My only problem right now is that I feel like I don't have enough time and money to take on more than one project at a time. 

Expected rate to return will depend on Investors Strategy independent to project.

This has allowed us to get rid of PMI and utilize a HELOC for any future investment purchases in the future.My best advice for you would be to find a local real estate agent who is familiar with what you're trying to accomplish, a lender who can offer renovation financing (and navigate it smoothly, as sometimes they can be more complex), and a contractor who will be able to take on this type of project with the bank.Best of luck!

She will allow me last look on the property if I can get comfortable enough with this project in a hurry.

So I am working on this project that once I am done will be cash flowing around $5000 per month after all expenses are paid.

I am currently reading as much as I can on BiggerPockets, buying every book I can about creative investment, finding and funding projects.

No, that's not how hard money works, that's where the traditional banks play.You are looking for a bridge loan essentially, something that will bridge your project to traditional financing.Bridge Plus from Lima One Capital as a for instanceThe spirit of the BRRRR is two loans:Take your hard money to do your rehab, they will finance a portion of your repairs as well.

I know there are multiple ways to get money for a project but I prefer traditional to get started

I want to tackle a flip at some point in the future, but I'm currently getting some buy and hold to stabilize the portfolio before I venture into that realm. 

Ss I have gotten further into the project and I am seeing the reality of the numbers (including taxes), it has made me question if I would be better off to do a cash out refi at 6 months and then sell after the first lease ends to maximize the payout and reduce the taxes.