Multi-Family Refi w/Cash out...LTV 70%?

[Yern Chao]

Interested in some advice. We own a duplex in Chico, CA and are trying to pull cash out with the Refi. We currently owe 194k and Zillow, Realtor & Trulia have it listed between 324-335k, but it was just appraised at 300k. Our mortgage broker can do 210k (70%), but problem is, we need to cash out 30k, or somewhere closer to that after the fees, etc. 

Our first appraisal was very low, unreasonable considering the appraiser had just lost her home in the fire and was complaining to me that the prices were going up in Chico, there were bidding wars, and she had purchased a "replacement" home for 30k more than the listing price. 

Our second appraisal came in at 300k. 

Not sure what to do. Or should we just sell? We have been working on this Refi for about 4 months now and are exhausted. 

[Oleg Shalumov]

@Yern Chao could you setup HELOC on the property or "Line of Credit"?

This works as a credit card on a house - you only pay when you take the money out. The fee to setup it is very minimal, but check with different banks on how much money would they be able to give you on the house