Delayed financing/cash out refi??

[Jeff Bodenmuller]

Hey all the financial guru's out there! Got a question. 

We purchased a wholesale property in Venice FL Feb of this year.

Our plan is to rehab it within a couple months and turn it to airbnb!

Ok, so back before we bought we had a conversation with our lender and explained our strategy. They said a DSCR loan was they way to go for a cash out refinance.

So we are currently in the middle of that refinance. Our lender said they are switching it to delayed financing because the cash out will not work because of the seasoning period of 6 months...The delayed financing was a lower interest rate but they are basing it off our purchase price which was wholesale. Even though they did an appraisal and rent estimate. 

Problem then becomes we are not getting all our cash back out that we put in because they are using our original purchase price!

Does anyone have any suggestions on what we should do?

Yes we understand we can wait a couple more months and do a standard cash out refi but we are trying to get our money Asap so we can roll into another deal.

Thanks everyone!