Dropping PMI with appraisal?

[Eric P.]

Anyone ever have any luck getting rid of PMI early with an appraisal? Here's my thought.

We just bought a house and it appraised above what we paid, my math shows that with our payments (factoring in front load interest), and an appreciation rate of just 1.4% a year we'll be at a 80% LTV in 2 years. If I redo the upstairs bathroom and do bi-weekly payments that should definitely be enough to get me over that threshold. Thoughts?