Refinancing Single Family Investment Property in Pittsburgh

[Matt Engle]

Hey everyone,

My business partner @James Tassone and I have an single family home in Pittsburgh that we rent out. We are ready to start looking for our next property and are considering refinancing as soon as we are able to so we can pull equity out and use it as the downpayment on our next place. We purchased the property for $55,000 with 20% down. It's appraised for $80,000. Our mortgage, tax, insurance is $482/mo and we rented in out in October for $1100/mo on a 1 year lease. We have $43,686 left on the mortgage. I know that most banks require a specific amount of time before they allow refinancing. Also, we purchased the property in our individual names and would like to put it into an LLC when we refinance. This leads me to the questions below. Any help or insight is appreciated.

How long will we need to wait before refinancing?

When we refinance can we put the property in an LLC?

Are there any Pittsburgh lenders you recommend for refinancing?