[quote=DataAgent]Not sure about the 6 month waiting period. However, I do remember reading something about the tax consequences of mortgaging a cash-purchased home. For IRS purposes, I think the refi is considered a 2nd mortgage with limited tax deductibility. You may want to research that if you’re counting on deducting the mortgage interest.[/quote]

This was discussed on a separate thread. As long as it’s a investment home, the interest is always deductible on schedule E.