How to refinance and cashout on 30k rental?

[Rahul Gupta]

I have been thinking of buying rental properties for under 30k in a small town in IA.

Is there a way where i can buy a property with all cash and then refinace it somehow(will any bank do it considering how low the price is) to get all the cash back and then repeat the process?

Will there be a wait time before i can refinace and if so, will i really be able to get back the entire amount invested in the property?

Thank you