You will only be able to take out a max of ~70% LTV of the appraised value which will likely be very conservative regardless of how much down you put and then you have to pay off the original loan (don't forget to factor in loan costs for each).

Hi @Ryan Marrero, and welcome.Six months for most scenarios (refinancing out of hard money being a notable exception), but appraisers are going to error far on the conservative side for about a year from the purchase. 

The package includes different water conservation faucet heads, shower head, aerators, shower timer, toilet tank bank, toilet flapper, and other tools to make sure there are no silent leaks costing you unnecessary expenses.

And if you don't wish to do that then take the most conservative path.Best to you.PS - I hear @amanda haun says short stays are taxed differently.

If you run your numbers conservatively, I wouldn't worry too much about what the building is currently renting for unless it is a 5+ unit building.

So the government ARM's are a lot less risk.VA and FHA ARM's can qualify at note rate (5/1 ARM or higher, not the 3/1 ARM) while on conventional financing you cannot qualify at note rate and payment with anything lower than a 7/1 ARM (calculation gets much more conservative with 3/1 and 5/1 on conv financing).

@Leslie Pappas is correct, Most conservative wisdom says that a hold of more than a year is sufficient.  

For example, you could approach an investor with a deal that conservatively could make $40k.

that is definitely a valid consideration and probably the reason why I ultimately decided to listen to my conservative broker :-).

Another thing to consider is the recent conservative earnings of most 401k's.