can i consider my condo as a BRRRR?

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hello BP realm, I purchased my condo for 180k and I put 9k down. my condo is rent ready as is with minus a painting. If I plan on making 10k in improvements over the next 6 - 12 months and say after those improvements are done my condo appraises at 200k and I were to refinance for that amount, I would then get a cash out of 29k minus the 10k for the improvements and I would have 19k to work with? my questions are, am I grasping the BRRRR concept right and how long do I have to wait to refinance? I do plan on renting this place hopefully in the next year. regards, Stephen