@Josh Caldwell Josh, do you think hard money strategy can be employed for securing a multi unit (4 units residential) if secured with a HM lender who will refinance the original loan after a specified period of time?

If it's adjacent you might be able to refinance to a single loan for both properties.

If you advertise it on AIRBNB then try to refinance it, nope, Underwriter will see the ads

@Dennis Yosco- why not refinance and rent out the property for cash flow?  

Now im working on refining it agin to get another $50k and it cash flows $1800/month.Second BRRRRR cost $160k, put $55k into it, refinanced and gave me just under $200k back and cash flows $2000/month.Currently working on my 3rd BRRRR in the city! 

So the question is, should I refinance it to pull equity, get rid of PMI, and transfer the title to myself or LLC later?

However,consider that the bank is more than willing to refinance that commercial loan as long as it is making an income that makes sense.

You would buy the home with 10% using hard money, improve it and refinance the existing lien using the new appraised value( will the lender allows using the new value on a R/T refi without a waiting period).  

Keep in mind with rates dropping on cash out refinances since they reduced the LLPA hit a cash out refinance may be a better choice over a HELOC.  

We believe we can refinance in the $2m-$2.5m range.