BRRRR (The Refinance part)

[Felipe A.]

I am a beginner and I think this is the part of buying real estate that becomes very scale-able. What kind of considerations do I need to make before doing a refi in the BRRRR?

For example, let's follow this simple example:

SFR for sale at $105k, ARV is about $70k. I purchase it for $70k and put 20% down ($14k). The note on the property is therefore $56k and I automatically have 30% equity (70% LTV) in the property.

When can I refinance the 70% and pull my money ($14K) out? Do I have to validate operating the property for a certain amount of time before being eligible for a refi? If not, can I technically refi the minute I get a 70% LTV on the property? (Which would technically be day 1 after owning the property.)

TIA!