Refinancing

[Bill Purifoy]

Hello BP,

I'm sort of new to investing and recently purchased my first property. I own the property free and clear (no mortgage). I'm currently renting it out at $750 per month and would like to refinance and take some cash out. I've heard many different stories: 1. I have to wait 6mos to get cash out (apparently there's some sort of seasoning period)? 2. That I can refi but I can only refi for what I paid for it. I paid 29,000 and it appraised at 58,000. I was hoping to get at least 75% or more LTV of the appraised value.

My question: what can I do? Are there any banks out there that will refi without the seasoning?  

I closed about two months ago. 

Thanks,

BPSI