Leave money on table during BRRRR refi?

[CJ M.]

Hello fellow BP'ers! So I haven't seen much posted on this, but I'm curious how folks (who are actively BRRRR'ing) approach this situation when in comes up.

My question is, if a property appraises higher than expected, how do you determine what you actually pull out in cash?

This is obviously a good problem to have, but as we know, the more cash we pull out, the higher the mortgage (and the lower the cash flow). So for example, if there's a property you estimated at $85K and the appraisal came back at $90K, would you take advantage of the full $90K? Say at $85K your cash flow would have been $200/mo., but at $90K your cash flow would be $175/mo. Would you take the lower CF for an extra $5K in your pocket? What if the difference was greater at even say $10-$20K? At what point do you draw a line in the sand and say, I'm only pulling out $X?

Note: I understand there are various factors that could impact one's decision (growth goals, condition of property, cash flow, etc.). I'm looking for most peoples general thoughts.