Generally if you are looking at a rate-term refinance (i.e. less than $2000 cash-out or just refinancing into a long-term lower-rate loan but same loan amount) then you should be fine - if looking to cash-out on the refi - generally will need to wait six months of seasoning however there are a few lenders that will do cash-outs at the 3 month seasoning mark

As you can see CA isn't outstripping the rest of the country as a percentage, it just feels that way in absolute terms because a 300% increase is a lot more when your starting point is $800K vs $200K.

There's plenty of lenders who wouldn't mind lending to a first time investor, but they may restrict some of what you could do in terms of the project.

Keep us posted on your successes!!!

What areas have you seen that have been successful in the past?

Short term, I'd probably buy the next property and live in it while I'm adding value.

I just closed a DSCR cashout refinance with better terms than what you are being offered.

They want to start out wholesaling in their spare time to build capital to buy long term rentals. 

I'm interested in investing in a short term rental the Somoma County market.

Use Private money to acquire and then refi into long term debt