The appraisal came in at $245K, but they are only loaning me 70% of the ARV.

Tenants were ecstatic that I have been fixing things that were neglected for years and based on units in Clinton trading for about $200k a door, the property will likely appraise for 750k+ Lessons learned?

They only appraised it for 75k.

When they need the money, we know this property will appraise for 40% more than we bought it for.

An appraiser?

Lots of folks are pulling out cash based on the appraised value for their next projects and holding for a few years to benefit from appreciation. 

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

We close Aug 22nd and so far we've done a ton of paperwork and we're at the appraisal stage. 

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

I'm not sure what the current appraisal value is, but comps in the area range from $600k to $1M+.