Cash-out refinancing question

[Samuel Watts]

Hello! I just got my first single family home under contract today and it should close in the next few weeks and I plan to live in it for at least 6 months afterwards (Hoping to cash out refinance after). I am getting a conventional 30 yr loan and haven't decided on whether or not to put 10% or 20% down. Can I take more out on the refinance if I do 20% or should I take the other 10% and put it towards another home?

The purchase price is 72,000 and it should appraise somewhere around 85-95k I believe. How much cash should I expect to be able to pull out on the refinance to purchase another property?