Cash out refi of conventional mortgage after rehab

[Matt Holmer]

Hello all-

In the past, i've done a brrrr to recover most of the funds for a cash purchase and rehab.  My question is, are there any hurdles doing a cash out refi when the property was originally purchased with conventional financing? I know there will be a 6-12 month seasoning period, anything else?

For example:

$50,000 purchase price ($10,000 down payment, 30 year fixed)

$2,000 closing cost

$25,000 rehab

Total cash needed $37,000.00

ARV: $100,00.00

At this point, after the rehab, renting and seasoning, can I do a cash out refi of 75% of the ARV to get most of my money back out of the deal?