When do you refinance after a BRRRR

[Kera Covani]

Hello All, 

I would like to BRRRR a few SFH's. After further research, I have been told by more than one lender that you have to wait one year to refinance the property to get the initial cash out. This explanation for this was that the house can not be reappraised at a higher value related to purchase price, for one year. Any experience with this and does anyone know of a way to refinance to get the initial cash investment out before one year?

Thanks in advance for your comments and suggestions!

Kera - RN, fulltime mom and newbie investor