Numbers on brrr needing some questions answered

[Todd Kime]

Please let me know how to recoup my 10 % down at closing 

I’m trying to figure out how to recoup my down payment .  
purchase price 120,000

Repair cost 10,000 

Down payment 12,000 

Loan amount with repair cost = 118,000

So am I thinking correctly home must appraised out for165,000 to recoup my down payment?

75% of arv =  123,750

[Jack Mawer]

It will depend on what the property appraises for in order to truly know how much the loan amount will be for the refinance - however, most lenders like to see that you have some skin in the game so leaving some equity in there is not a bad idea