Cash out refi on recently purchase property with 10% down

[Pourash P.]

Hello all - if someone purchased a $1MM property five months ago with 10% and now the value of the home (at least on zillow, redfin, etc.) based on comps is 300k over purchase price ... is there a way of do a cash out refi? Of course the lender would get it appraised and follow their process, but what are some rules that one must be aware of and where should one start in getting concrete answers? Any help is greatly appreciated. Thanks