Is this what $0 means?

[Account Closed]

I found a house I want to purchase for $140,000 with an assessed value of $180,000. For any bank financing, I am required to put down 25%, or $35,000. I am going to pay the 25% down and get a 30 year fixed mortgage of $105,000, then as soon as I am able to (2-6 months) I am going to refinance the loan for $150,000. I will get my $35,000 back so it will essentially be $0 down, I will have the house, still have some equity, and have extra cash in hand for any unexpected vacancy or to use as another down payment later on.

Am I overlooking anything? I realize with a refinance I may pay a bit more, but the numbers are all still good, I will have a $200/month cash flow from day 1.