Save up on money vs hard money loan for BRRR?

[Kheng Joe Lau]

Greetings,

I am a newly graduated MD who just joined the workforce with good W2 earning. I am very excited after recently joining this wonderful BP community and looking to start investing in multifamily rental properties for BRRR. In process of saving up for my first purchase.

My question revolves around possible options to start BRRR strategy as someone with good W2 income. 

If I found a good deal, can and should I start early, by getting loan from hard money lender to finance my purchase and rehab cost, then REFI? (I believe this is called bridge loan?)

Is it possible to get a conventional loan with low down payment first, use own saved up cash for rehab the REFI with conventional loan?

Alternatively, should I just be patient and save for cash purchase and rehab?

Much appreciated.