using heloc to purchase investment property with intentions on buy and hold

[Jeff Kuhen]

I just purchased a property using my heloc..property price 95k..rehab costs approx 50k..after market value will be approx 200k..I am a buy and hold investor and property will rent for 2000 a month.  My question is..how long will i have to wait to refinance this property into a 30yr mortgage.  My goal is to pay off the heloc to be able to use the money again.  My rate is 2.75% on the heloc, and was wondering if just using cash flow from rental to pay back heloc is a better option then the refinance..Looking for advice..thx