Can you refinance with a cash out on buildable land?

[Christina Kokologiannakis]

We are closing on buildable land in a few days.  We will eventually build an Airbnb on the property but can't do anything till the plans and budget are ready.  Until we can convert the loan in to a construction loan, I want to refinance out of the high interest rate we have on it.  We needed to us a hard money loan due to banks not counting our Airbnb income and my business income.  We are putting 50% down on the property, paying 2 pts and at 10% interest rate.  

I would like to refinance pretty quickly and get back out as much of the 50% cash we had to put down. 

Can some one explain how that will work?  Is it possible? How long do I have to wait to refinance? What do I need to be able to refinance land? 

I really appreciate the help and guidance.