Cash out Refi on first Rental purchase

[Kalee Hergert]

We are purchasing our first rental property. Buying and rehabbing with cash. Looking to cash out refi 75-80% of the value at the end to recoup our funds. I've talked to two banks, one requires 12 months of 'seasoning' another requires 6 months of ownership. 

Anyone have any better luck or advice? 

Also, will a bank typically do a 30 year amortization on a rental property? We want to cash flow as much as possible. 

Thanks for any input you can provide on your experiences!