Turning a "live in flip" into a rental

[Mercer Schuchardt]

Hey BP! First off, forgive me for the elementary nature of this question! I've been digging around and doing as much research as possible, but am still trying to find an answer to my specific situation. So, here goes!

We just bought our first place in November. Its a SFH (one half of a twin) that we got for 118,500. The mortgage is for 114,900. We put 14k (cash) into rehabbing it, and moved in. Conservatively, it would appraise for 185k right now. So here's the question, what is the standard way of getting equity out in order to move onto the next project. My understanding of the refi process is that there is a 6 month seasoning period required for refinancing based on appraisal. Additionally, my understanding is that (for conventional loans) you must live in the house for a minimum of 12 months in order to fulfill the "owner occupant" requirement. So, if we refi in 6 months, does that clock start over? Essentially, I'm trying to figure out the quickest way to pull some equity out so that we can move and start renting it, without going the hard money/non-conventional mortgage route. This is obviously a situation many folks on here have solved before, so I'd love to hear how people would handle this situation.