How long before most banks calculate Net income/loss on rental???

[Lawrence Paul]

Hello again,

So, my current bank requires me to wait a whole year before they calculate net income or net loss on my first rental property.

Needless to say, I am not thrilled because I bought undervalue (20%) and forced a slight appreciation (5%) on the property.

The bank also forced me to put a large down deposit (45%) on the property due to my debt to income ratio along with a 25 year mortgage at 4.5%.

Thinking about doing a cash out refinance on the property with a 75% LTV in six months, but...

Here is my question: Are there federal guidelines that regulate how slow or fast a bank is required to calculate net income or net less for my debt to income ratio?

I was thinking of using an online bank/mortgage lender to cash out and repeat the process so I can have multiple flows of income.

Ideas/Thoughts?

Thanks!