Cash Out Refi on Just Purchased Property

[Sarah Miller]

Hello BP! FINALLY closed on my 2 duplexes (yay!). Now I have a general question. I bought one duplex as a foreclosure. Once we do some work to it, we should have around 40k in equity. I would like to pull this out somehow with a cash out refi to invest in another property. Is there a 'seasoning period' before I can do this? Since I bought it as a foreclosure and not at actual market value, I would think I could refi right away. Also, does anyone have some preferred lenders for this type of transaction? I would like to get at least 80% LTV.

Thanks!