how soon can i cash out refinance an FHA loan?

[Angelo Del Monaco]

Hello all

I appreciate your help and responses in advance. Moreover this is my first time ever posting so I apologize if I word this question incorrectly as I am also only 2 weeks into my first real estate investment.

With that beIng said my first real estate investment was a short sale duplex that was about 70% below market value. I used an FHA loan because Of the low down payment benefits, and now I am already planning my second investment. I was wondering if it was a good strategy to cash out refinance this fha loan using a conventional loan, and then take out another FHA loan to invest on my second property? If this strategy is ideal, how long do I have to wait to refinance this fha loan into a conventional loan and cash out? Thanks so much in advance!