Cash out refinance: is there a new home inspection and appraisal?

[Jack B.]

I have a primary residence I rented out for a few years after living there and have recently moved back into at least for now. I'm considering cash out refinancing while I'm still living there to get some cash out. I will either rent the place back out after I move out or sell it.

Is there an appraisal when doing a CO refinance? What about a home inspection?