refinancing a conentional loan within a month

[David Mirza]

I'm purchasing a home for 150k that has an ARV of 200k. I would like to finance the purchase with a 30 year conventional loan, do some minor repairs then refinance the property and take cash out within a couple of months. Will this work? Also, what happens if I received a lender credit on the initial loan I used to purchase the property.

[David Mirza]

sorry what I meant by lender credit is when you receive points from the lender to help with closing costs.  As far as plans for the money I would like to buy more homes with the money.  I currently own 6 and am working on number 7 and 8.