Cash Out Refi -BRRR

[Zak Parks]

Hey BP. I currently have a triplex under contract in upstate South Carolina for about 75% of what I think it's worth. My plan is to pay cash for this property and then do a cash out refinance on it because I think it may appraise higher. So basically I'd be pulling out all of my initial cash invested with a refi, aka using BRRRR without the rehab. Would you do things differently? After speaking with lenders, it seems I'd have to wait 6 months before refinancing the property. Are there lenders that exist that don't make you wait 6 months to refinance like Fannie Mae requires? Comps on the property are tough to find so I am also concerned about the appraisal being too low. Would income be a factor? Thanks for your help BP! -Zak