Cash out Refinance issues

[Stephen McGrath]

Hello BP Community,

I have a little issue here. I recently sold a rental property that was not cash flowing and purchased a duplex in Texas. The idea was purchase cash, then cash out refinance with the attempts to pull off the BRRR strategy or close too it. My issue is that my credit score is still on the rise, but more importantly, i had multiple late payments on my previous mortgage and now I'm told i need to wait a year to cash out from the last late payment. Does anyone have any experience in ways around this? or using non conforming loans? any advice would be greatly appreciated as i would have to otherwise wait 8 months at this point to refinance. Thanks in advanced.

Stephen