I am looking at trying to refinance my house at a higher rate and take the equity to hopefully get a second property.

With a jumbo loan I will be able to retain $80,000 for future investments and help with the down payment of my next cabin.If I went the conventional loan route, would I be able to cash out refinance at closing or would I have to wait 6 months? 

The grant doesn't have to be repaid as long as you don't refinance or sale within 6 months. 4.

Let the property season for 6 months and then pull the money back out with a cash-out refinance. 

My question is if I want to refinance my property and it's sold to a new bank how will this affect me?

Is it possible to do it this way using a bank and refinance with them after the renovations are done?

This property is mortgaged and with the refinance we would still be able to meet our mortgage although it would affect our ability to save until the new investment makes cash flow. 

Can't cash-out refinance because it is a mobile home.

Lenders do this as that capex spent is going to raise rents by $200 or 300/unit and that will increase the exit metrics so there is less refinance risk.

Without details of knowing how much equity you have in the house its hard to say for sure whether you can pull anything out or if it will even be worth it.You should be able to do an investment home refinance though at the lowest at 70% LTV, maybe a bit higher.