I want to buy my own property I originally wanted to flip

[Amber Collins]

Hello,

I had originally purchased a property using hard money to fix and flip however now that I see how much development is happening in the area, I want to keep it for myself. I have everything I need- credit, income etc. to qualify to buy it. It does not need any immediate repairs so it will appraise as is for more than I mortgaged it for- the prices in the area are rising daily.

I had planned to wait 6 months and do a refinance, I am the sole member of the LLC I used to purchase. I currently have an FHA loan on my primary residence, once the 6 months was over I was going to sell my primary house, apply for a conventional owner occupied loan and purchase my flip house- I read I need to wait 12 months if I go FHA?

My question is, what is the best way to get it from my LLC to my personal name for a cash out refinance in 6 months? Do I need to put 20% down to purchase this house? What should I not do?