BRRRR - Refi cash out amount

[Ben Raef]

When analyzing a long term rental deal how do you determine the appraisal value? In my analysis I am using the ARV as the refi appraisal amount. Trouble is the monthly mortgage increases based on the ARV or appraisal value from the lender. For example: Cash purchase price $50k ARV $100k 75% cash out refi The good part is I can get all my cash back. The down side is the mortgage on $100k does not give me the monthly cash flow I'm looking for. What am I missing? Thanks for your help BP!