Residential lenders require a 6 month seasoning period before you can pull out anything more than your initial investment ($60k). 

I thought i was stuck until October, but now i am wondering i could turn it into a BRRRR property, refinance the house and pull out some cash to try to purchase again. 

I like to find all possible solutions before you dump and run

I would love to use this the equity property to leverage us getting more properties and starting the method.However, when we reached out to our mortgage broker, he said we’d onky be able to pull out about $28,000 and that our rate would increase drastically (currently at 4.2 on a 30 year fixed).

We expect to close next week.In between I signed a contract for another property, where the seller is the mortgage broker (not the one for the first property) (mmm... may be I should not have done that).The problem is that when I told mortgage broker 1 that I signed a contract for another property and broker 2 pulled the credit he got upset (may be rightfully) because now we will have to disclose that new contract and explain we will be having new debt.

@Anthony Kondorif you can pull it off write a book on it.The only way we got an out of state bank to back off was to take pics of the roof leaks etc etc.

Simple solution: execute the contract as agreed to.

Then went to the county courthouse to pull the subdivision blueprint...which was from 1905!

My trouble will not be in pulling the trigger, I have no issues with taking risks.

I have six months to create a home solution and financial foundation for me, my children and my grand children.