Cash out on a fix and hold property in less than 6 months

[Sameer Jain]

I am looking for an advice.I am planning to purchase a fixer upper in SFO bay area for $460k SFH. The comps in that area are going at $560K . What would be good strategy on this property.

1) Buy this property at $460 K  with conventional mortgage and spend 25k in rehab before renting this out .

2) Buy this property at $460 K all cash , rehab and rent it out and then get cash out on the property 2 months at appraise value of $560k after the purchase to get the max ROI.

If I go with option 2 is there any lender who can refinance a property 2 month after the purchase?Will the lender take $560 k value of house or $460K? Based on my understanding the lender takes lower of market value and purchase price if you refinance the property before 6 months of purchase ? Please share your feedback.