as a mortgage broker I would like to make you aware of the diffuculties of obtaining cash out refinances on non owner occupied properties. As of right now there are very few, if any, lenders that are lending money on cash out investment properties. Not to mention with little seasoning. Things have changed so much over tha past couple months that much of the finance advice you will get on here might be a little out dated. No offense to Jon Holman as the number of posts speaks for itself. Many of the lenders will also even go further than the 6-12 months of seasoning if you are trying for a much higer value than your purchasee price. Also be aware that if you are trying to flip and sell there is a 6month flipping rule for FHA mortgages. Most potential buyers will be qualifying for an FHA purchase becuasee they are the easiest to obtain right now.
