Cash out refinance after new construction

[James S.]

Could someone clarify how a cash out refinance would work after new construction. I own the land with a mortgage (owe about 225k out of 287k) and am living in one of these units. I have about $150k cash on hand as well as I am planning to get a construction loan to cover the remaining cost of a duplex. My question is after the construction is complete, am I able to do a cash out refinance on the whole property to pay off the construction loan in order to build more units? If so does the cash out reset the loan to the original amount or does it increase it to include the value of the new unit (i.e. original loan was 300k and after cash out it becomes 550k?) thank you.