Is a cash-out refinance easier to get approved for?

[Blaine Alger]

Since I am a 21 year old and lack a history of W-2 income, no bank would ever lend money to me for a traditional mortgage. But lets say I was doing a BRRRR, bought a property cash, rehabbed it, and then went to refinance it with the bank.

I figured it might be easier to get approved for the cash-out REFI given that you already bought and fixed up the property on you own. Now the bank would have nice, new piece of collateral to hold.

Would I have a better chance to get approved for the cash-out REFI opposed to the initial mortgage to go out and buy the house? 

Thanks for any insight you can provide!

-BA