How soon can I refinance? And at what rates/terms?

[Andrew Michaud]

Hello, I am closing on my very first deal two weeks from now. I am already looking ahead into purchasing the next property. I have several questions about refinancing.

I am buying a triplex for 60k. All good tenants, and great cash flow. Assessed value is 73k and market value is 85k. Property needs a new roof and and there are other areas for forced appreciation room. 15 year amortized at 4.5% and 20% down. So 12k skin in before repairs, 48k owed on property.

I am looking into purchasing a second property as soon as I do the updates on this one. Second property is a 6plex. Market value is over 200k and she is asking 150k and I haven't even began to negotiate. Great property, elderly landlord looking to get out of the game. Here are my questions:

How soon can I refinance on this conventional mortgage? 

What are the terms and interest rates on a refinance? Are they around the same as the standard conventional multi family loan? (15-20yr, 4-5%)

Will the bank look at me as having too much debt in a short amount of time if I buy this first property, refinance, then use that as a down payment for the next property that I will also owe money on? I will have two mortgages correct? One for the refinance and one for the second property?

Also, is it possible to owner-occupy on the second property and only put 3.5% down even though its a 5+ unit commercial property?