Unless it’s a close family member or friend the rate would most likely be higher for a PML. you can get 100% of the renovation budget covered with a bridge/hard money loan.

Loan agents, clerks in the title company, etc.  

Looking to refi based on the value after rehab based on rental income/cashflow (expecting it to be around $200-210k value) Aiming for $150k loan for paying off current mortgage and covering remodel/rehab costs on my propertyIs this doable without a significant down payment?

You did not indicate where the money is coming from but if taking out a construction loan, the loan payment will likely exceed $1k if using construction loan (will be a little less if using heloc).  

I have a triplex that I have a hard money loan on.

He is taking out an equity loan on the house of about $120k to make home improvements and was gonna use $50k of that to get me a car and I make payments to him instead of the bank. 

VA Loan How did you add value to the deal?

It's probably in his best interest to hold as he only needs requires $250K MAX in addition to the property he is selling, and can secure a new loan on the new primary.

They may ask for a depository relationship but can also bake an interest reserve into your loan (try to capitalize this into the loan, if possible).

Those deposits they had to turn around and loan out.