We current have about $500k in equity (down payment and loan pay down).

Since we will not be doing the work until later on, would it make more sense to use the 504 to purchase the property only right now, then seek another loan or LOC when we are ready to begin the work?

How do I protect my investment as the loan amount is more than the replacement cost of the property?

What I’m hoping to do is to pull some of that equity out to buy more, but a cash out refi on any property puts it into the negative cash flow situation since my current rates are mostly 5.5% or lower.

@Joseph Chiofalo has some great nationwide STR investment loan products and fixed rate second/Helocs for investors loans clients tapped into recently. 

Is this a good strategy that actually reduces the life of the loan?

The client cup of tea is loan assumptions with value add.

Additionally this hard money lender is at 75% loan to value are there any lenders offering 80%?

Current loan is 420k and value at 545k, credit score 740+.

They can provide the answers that are correct for your situation and you have to have one to do the transaction anyway.