BRRRR is common in commercial and your existing lender will need more of an appetite for a refinance if they know that they are going to loose the loan.Fannie, Freddie, and some local/regional banks actually have a supplemental loan feature that facilitates a BRRRR...the original loan stays in place and you get a supplemental loan when the property has been re-positioned, rents raised, and stabilized.There are also construction/perm loans where rehab is financed during the IO construction period and then the loan starts amortizing later. 

But don’t wait around and loose a deal.

The return process they are talking to overseas call centers, the item takes weeks to get back to the warehouse, the retailer looses the actual item being returned,etc.

People know which town looses people, where economy is growing, etc...

If you refi and book a vacation you may loose your home (or just go on vacation and pay more/month).  

The reason is things have to be perfect to go correctly.When a buyer instead is dropping 50% or more down some of the lenders (look the other way) and are loose on underwriting.

I didn't loose the forest through the trees but the trees are important in investing and lend credibility to the story. 

With enough elbow grease I'm sure it can be knocked loose. 

I would tend to agree that we will see some issues with multi-family loosing occupancy.

Not to mention the fact that the dog might get loose and run into the road, or get injured somehow.