I was wondering - in that situation described of how you keep tenants in place and rehab whichever units you can, how do you handle your "bridge" financing (assuming you are not operating in all cash)?   

I would raise it by 10% or $50 max whichever is lower, at a time depending on your actual rent range.

Whichever is more important to you will probably be the best route to take.In addition, if you have not connected with an agent, I have written a blog post on the subject that will help you sort through the haystack of agents in the area :)Click on the link below to give it a read:https://www.biggerpockets.com/blogs/5868/52724-im-...

You should be able to take that first 20k profit or which ever amount and use it to float you until the next property is completed, no?

However my plan is to buy a home in cash and do a cash out refi and my credit union has a 6 month wait to apply but will only use sale price plus documented receipts or appraisal but whichever is less,  or I have to wait 12 months to use appraisal value.  

An 80% LTV means your loan amount is 80% of the appraisal or purchase price, whichever is lower.  

I just bought a triplex next to some properties of mine (just so I could have the extra land) and my bank financed based on 70% of the appraised value, or a 1.25x DSCR -- whichever was less.  

We just sold that home, but missed the capital gains time line by 1 month (another story), but will still able to take that money/profit and pay off my current home..bought/built in 2012 :-).we were lucky with market timing, but this HELOC method did give us flexibility and "increased our equity" since we paid down principal quickly while the market rose quickly.MANY folks get into trouble with this method if not disciplined though.Good luck with which ever way you choose.

Whichever market you focus on, definitely research the local regulations before you do anything else.

@Simmy Ahluwalia I don't think thats true for the 50K or 50% (whichever is lesser) loans to yourself in 401Ks.