If you are all in $200k into a property  and it is worth $350,000 after repairs, then you should be able to receive all of your initial cost on a refinance using the new appraised value. 

Sympathize with them, and try to help them get out of their current situation.Have accurate numbersALWAYS have an accurate ARV(after repaired value) on a property, and ALWAYS have accurate repair costs.

What is your draw fee & benchmarks for the repairs portion of the borrowed money?

Someone to stock supplies, an appliance repair person, heating/air conditioning repair, plumber, lawn care person, carpenter, salesman, and occasionally an electrician. 

I am going to be lending to an investor on a single family home.  There will be renovation of the home that is $82,500 worth of renovation. The Homeowners Insurance will include Builder's Risk.  During this renovation...

Right after I closed on that one the insurance company demanded I make a couple thousand dollars of repairs.

I have a proven track record of being able to identify a property, make the appropriate repairs, and have an ARV that exceeds the cost of purchase and repair.

The repair was extensive and costly, requiring excavation (about 3x6 feet) to replace the broken section and clean up the mess.

If it’s a 1910 mansion you obviously need a boatload more to pay for maintenance/repairs than a 2025 condo.

@Samuel Coronado I’ve worked with a few lending options that have no seasoning requirements and allow you to borrow based on the appraisal or after repair value irrespective of how long you’ve owned the property for.