Some of my financing suggestions include: 1) Staying in contact with 2-4 banks/credit unions as well as brokers on a given basis, 2) Sharing project details immediately after LOI/under contract, and 3) Negotiating terms with at least two options for financing. 

Quote from @Mike Klarman: Most Hard Money lenders do not go 100% costs on projects. 

They are suitable for long-term holdings of at least 8 years and can also be used for new development projects.- Bridge loans serve as a temporary financing option to bridge the gap between agency or HUD loans.

So, if you rent/refi now you can move on to the next project.

There are investors who definitely find it worth it to refinance in three to twelve months to have more money for new projects.

It would also require IRS approval in this case to make this kind of accounting change.The bookkeeping will take more time, but on a good sized project it would make sense.

If you have >50% of your existing capital/funds tied up into the first BRRRR project my inclination would be refinance sooner rather than later waiting for better terms/conditions to refinance.... not knowing whether that will take place.

They are projecting the home to take 6-7 months to build. 

NYS assistance may be available depending on income limits, but many buyers at this price point don’t qualify, so planning without it makes sense.Lenders can use a portion of the projected or existing rental income to help you qualify, and because you’ll live in one unit, you’ll receive owner-occupied rates, not investor pricing.

I’m open to value-add projects for light to medium renovations but also open to turn-key (particularly if OOS).