Does a 96.5% LTV work with the BRRRR Method?

[Ethan L Smith]

I am new to real estate investing and looking to buy my first property which will be a multifamily 3 unit home. I plan on using an FHA loan which will give me a 96.5% LTV. I am curious if this will work with the BRRRR method when I go to refinance the property down the road. Any advice would be very much appreciated.