2 Lenders Scenario - BRRRR Refinance Help

[Nandy B.]

Looking to cash out Refinance my Primary so I can finance my next primary (would like another FHA 4Plex).

HOME 1 - PRIMARY - FHA - (1907)

Loan Amount - $158K, Current Market Value - $216K (Tax Assessor) and $240K "redfin" (converted from a 3 to a 4 bed.) 

HOME 2 - RENTAL - CONV - (1905)

Loan Amount - $202Current Market Value - $216K (Tax Assessor) and $240K "redfin". Income $2100 (cash flow $450) 

Credit Score - ~670-680 

NEW JOB --- start next week Income 10K/month 

Debt --- Student Loans 89K, CC 22K

******Lender 1******

I requested a cash-out refinance. The lender is doing limited cash-out refinance. So that means that I will only get 2K. We are doing an appraisal, and he told me that after the appraisal if there is money left over then I'll get some money. But he has not told me how much? Is this normal? Shouldn't it be structure right from the beginning? 

****** Lender 2 ******

The second lender who seems a little over eager gives me these numbers. See the picture above. Do these numbers make sense??