BRRR Strategy Laws in Florida, Refinance step

[Roberto Ponce de Leon]

I am a new investor, and I'm trying to use the BRRR strategy, using cash or private money to buy a fixer-upper property, rehab and then refinance. However, I was told by an investor that in Florida, the law prohibits refinancing a property by its market value within the first two years of owning the property, and what the law permits, within those two years, is refinancing only by the purchase and rehab costs that can be proven.  Does anyone know if this statement is correct? if so, there any way around this law? 

Thanks