BRRRR refinance help needed!

[Luke Mccandless]

I bought a property in cash and did renovations. I am currently living in the property but would like to convert to a rental or sell asap.

I have been working with a lender to do a cash out but the appraisal came in way low and they are not budging. I bought for 183k put 20k into it and had a realtor plus my own comps give a value which came in at 250-270k. The bank appraisal came in at 200k. They are only willing to go 75% LTV so cash out is 145k after fees meaning I am leaving ~120k! in equity in the house. I am tempted to just close this as it has taken them 3+ months to get to this point with the cash out refinance and I don't want to start over with a new loan. I also have loans to pay off with some of the proceeds and so really wanted 200k back out so I have enough to buy another property. I am considering just selling it since the market is so high now in this area - top 3 most competitive cities in the US right now.