PURCHASED WITH CASH LOOKING TO CASH OUT REFINANCE

[Kevin Durham]

Hey all, I recently purchased a house with cash that I planned on flipping. However, after much thought I would like to keep as a rental. I believe ARV is 105-110k. Currently, I am pre-approved but my lender is saying I need to own the house for 12 months before they will cash out on appraised value.

Any suggestions on a lender that will cash-out on a property that I just purchased based on appraised value?

This is my first time deciding to rent instead of just buy and sell. 

Any tips, suggestions, help, would be greatly appreciated. 

Thanks