You need to check around and find a lender that is willing to lend on a property that is an LLC, most will not. You're also going to be limited on the LTV as to how much cash you can pull out depending on when you purchased the home. You will probably also be required to base the LTV on the purchase price rather than the appraised value.
Hope that helps.
A: Yes you can, however what you are asking about it called "Entity Vesting" and not many lenders offer that type of financing and the terms will generally be ARM's with fixed rates for 3-7 years & at higher interest rates than taking title in your personal name.
Q: Could this be a new LLC, or does it have to be seasoned?
A: If you are simply putting title to a property in an LLC, there shouldn't be any requirements other than that it was legally formed and meets all of the lenders requirements (that you as the person have the authority for the LLC, etc.). If you also want the LLC to be able to qualify for the loan, where your personal information isn't used as a basis for qualification, then when entity vesting loans used to be popular the LLC had to be around for at least 2 years.
You can purchase a home in cash with your LLC and potentially be able to take cash out immediately afterwards if you finance in your personal name, the web reference link has full details on that program.
They'll give you the refi, but it's going to be against the creditably of the LLC.
So opening a new LLC, probably won't carry enough weight.
If you only go for 50% ltv, you'll probably be ok. I'm not sure what percent cash out you're looking for, but I don't think they'll go to far past 50.
This is a question you should direct to your attorney and your accountant. They will be able to help you with the details pertaining to what you wish to do.
I'm also an investor, and I'm intimately familiar with this strategy. I also have structured deals slightly differently, but I still was able to recapitalize (which is your goal).
Please feel free to contact me.