Refinancing a rental unit

[Al Johnson]

Hello BP family,

I have a potential rental unit that i am looking to purchase with cash from a bridge loan. I want to immediately refinance to a 30 year conventional. Is this possible within a month or so of purchase, or do i need to wait a specified period of time before a bank will originate a 30 yr? The property already has a tenant locked in for 2016... current purchase is at 85% of current market as-is, but there is room to make rehab improvements.... is what i am trying to do feasible within a 1-2 month turnaround from purchase to refi? 

Please help!

AJ