To answer your question quickly, no you will not be restricted to 50% LTV when refinancing the current debt as you transfer title from your LLC into your name because you own the LLC 100% (min 25% ownership is needed) so as long as your LLC has held consecutive ownership in this property for a min of 6 months prior to the disbursement of the new loan (AKA prior to funding).

So here is my story, I have owned my home for the last 17 years and have refinanced at least 5 times in those 17 years.

We refinanced in 2005 from 6.5% 1st and 8.0% 2nd to 5.5% conventional loan pulled $35,000 out and got rid of the PMI.

@Calvin LinI just finished refinancing a few of my rentals with with one of the big banks.

Refinancing for a small amount of money is not cost effective and you'll pay far too much in fees. 

Hello,  I was in the process of refinancing my condo (cash out refi)  and today I got the news that the bank will decline it as it's at less than 50% owner occupancy as well as 3/8 of the units are owned by one investor.  

Thank you.Yes, he will usually be buying all cash and then refinancing.

So about 5 months later it was renovated and rented out and they refinanced it for us with a new appraisal. 

Any advice for VA loan refinancing.

And by refinancing means I have to apply for a mortgage loan and run a hard credit check?