Refinance on Investment Property

[Stacie Telles]

Hello all, I inherited a duplex fully paid off. I took out a mortgage on the property in November to help make repairs and rent it out. The loan amount was for 153,000 and the property was appraised at 220,000 before repairs. Repairs will be done this February and both sides will be rented out. Will the bank allow me to refinance the property again to tap into equity after the repairs and new appraisal? I would like to put the money into purchasing another investment property. Thanks in adavance for the information!