Best loan to pull money out of a BRRR.

[Kyle Fraser]

I recently did a BRRR on a property. I used all cash to purchase, rehab, and now it's rented for $1250/month. 150K invested total, house should appraise around 195K. Today, I met with a bank to discuss loan options to pull my money out for the next project. These are their conditions.

1) Must have the property for 6 months to get an appraisal otherwise they use the purchase price to loan on. 

2) Only loan 75% loan to value on appraisal (Which is fine)

3) Can only use 75% of the rental income to calculate loan payment coverage

4) Can not sell property to family member then transfer over to LLC. (Trying to find a work around for the 6 month waiting period.)

5) Heavy loan and finance fees associated with borrowing. 

Who has a proven loan system to use for the BRRR process that involves financing? What is the most cost and time effective way to handle a BRRR?