Flip vs cash out refi

[Marshall Secord]

Hi BP. I’m currently working on what I always intended to be a flip in Philadelphia, but I’m starting to think more and more about the potential of a cash out refinance so that I can keep the house in the appreciating Brewerytown community. Does anybody know what the requirements are for how quickly I could actually get the cash from a refinance?  I’ve heard that I may need to rent the property out for a few months or even a year before I can refinance. Also, can I cash out the full final appraised value minus what has already been paid for the house, or is there a max percentage of the value I can pull out?  I would love for it to feel like I’m getting paid what I would for a flip and I get to keep the house in exchange for a bigger mortgage. Thanks!