Refinancing a seller financed tri-plex

[Jon Blackburn]

Hi BP,

I'm preapproved for conventional financing on purchasing investment property, but in order to preserve my credit in the short-term (for a few non-real estate things I'm doing) I've got a buyer that's agreed to seller finance a deal with me. My question is that if I close on the property with seller financing, and in 6 months look to refinance the property with a bank, will I face any challenges in doing so (assuming my credit profile looks the same as today)?

Details of deal: $90k triplex with all units occupied for total monthly rent of $1,420. I'd be putting down $40k cash and financing the rest with seller, but looking to pull as much cash out as possible in the refinance. 

Will the lender be looking at the same criteria they do in a conventional 30-year mortgage? I'm just trying to have full clarity on my "exit strategy" for the financing with the seller!