Refinance after a "cash" purchase

[Rebecca McClellan]

I am working my first deal and have been awarded the contract to purchase a property at $35k. My plan is to fix it up a bit using about $6k and then rent the property ($900/month). I estimate the ARV to be about $50k. With closing costs, my total in the deal will be $44k. I am using a cash lender (a friend of mine) and don't want to borrow her money for longer than about 3 months. What are my options after the deal closes. I was hoping to go to a bank and get a mortgage. Will this work? How much do I need down on an ARV of $50k? Any other thoughts?

Thanks for your help.