Timing of cash out refis

[Pete Carlson]

I have a personal house and 2 rentals. My understanding is that I can only do a total of 4 cash out refis. I am currently looking at 2 houses: one would be a cash out refi (needing a 6 month seasoning) and the other would be a 20% down and taking out a first then using a HELOC up to 75% ARV to recover the cash. I would be buying the cash out refi first and then the 20% one about 2 weeks later.

Would taking out the first loan (on the second property) nullify my ability to do the cash out refi after 6 months?

Thanks, 

Pete