Seasoning period with cash purchase?

[Alisa K.]

I bought a home with cash. I did not have it appraised at the time of purchase. The house has appreciated even though it has not been 6 months and I'd like to get my cash back to purchase other properties.

First, do I have to wait for 6 months and why? Second, can I pull out the cash based on the newly appreciated value or do I have to use the original amount I paid? Third, are there loans available for 80% LTV in this situation. Calling all lenders...I'm looking to refinance this baby!:)