Appraisal comes back high.

[Susie Ivanov]

I am working on my first BRRRR and just finishing up the rehab. I purchased the property in Nov, 2021 and at the time when I pulled comps I was looking at between 160K-180K. I had budgeted for 160K for the refi and rent would be around 1600 per mo which would cash flow 200-300/mo. Now pulling comps they are more north of 200K. I am thinking if the appraisal value comes higher I could either:

1. Still borrow that money with potentially less monthly cash flow for the first few years on this property but giving me more capital to scale, OR

2. Only take the 160K as planned which would still not leave any capital in the property. 

Any advice or a hidden 3rd option I have not considered?  Thanks so much for any expertise/insights!