Can you cash out the ($141 - $129 = ) $12,000 when refinancing?

Refinancing your loan to $192,000 probably wouldn't significantly help your cash flow situation, and the $13,000 would only get you into a cheaper rental somewhere out of state (in a possible war zone unless you have additional capital to also invest).  

Anticipating issues in refinancing is one of the primary factors in a BRRR.

Buy an apartment building, rehab the vacant units, and sell property once fully stabilized (with an alternate exit strategy of refinancing with a commercial lender).The acquisition and construction will be financed by private money, the renovations performed by a GC, and the property listed and sold via a traditional agent.  

If the lender isn't interested in refinancing, you just get a new lender.

I have 3 more properties that I own free and clear, but I'm working on upgrading them before Refinancing them.My plan from here is to use some of the money to upgrade my other 3 properties so that they'll appraise for the max value.  

Plus by adding appreciation to the property you could then consider refinancing to lower your payments, in turn more cash flow - or even sell it. 

Curious if anyone has an idea on the difference in appraisals values of a property in mint condition or one that is so so.  How much difference will it make on appraisal value if one spends time/energy doing allot of ...

My plan was to open an account with the bank in the next week, and perhaps approach them after the 3-6 month mark (seasoning period) and talk to them about refinancing into a long-term loan.  

So if you were to buy with a hard money or renovation loan, and you buy it right, you could buy and fix up a house with no money out of pocket with the right lender and as long as your purchase, reno costs and reno loan costs are under 70% of the value of the home, you could then refinance into a permanent loan and hold it.There are some smaller local banks that have a rehab to permanent where you can buy the house and renovated it with the construction loan and without "refinancing" the loan converts to a permanent loan after the renovation is complete.