HELOC AND Cash Out Refi?

[Patrick Kwon]

Hello,

I am doing my first house hack. I fixed up the property in about 4 months and I have rented out the extra bedrooms now. 

I was looking into doing a HELOC or Cash out refi. It dawned on me that if I can do a HELOC at 6 months after purchase, then a cash out refi at 12 months after purchase, I could pull out money twice from one property in one year. Would anyone have experience with this? Would the cash out refi at 12 months look at the line of credit on the house and decline my loan based on dti?

Thank you,

Patrick