Refinance a Cash deal?

[Michelle Holmes]

Hi there, I am a newbie in Houston and looking to do a quick buy and hold property to test the AirBNB model. I am looking at properties that just need a little lipstick and rouge and not the full blown BRRR....right now I don't have the time for the full rehab nor the time and energy to find the distressed deals. My question is this.....if I pay for a property with cash (looking under $100K) and get a good deal on one that I can put maybe $5K into updating and get an ARV of about $130,000 can I turn around and refinance that to a conventional loan once I get it cash flowing? IF so is there a holding period I have to keep it before I can get the conventional loan?