I had to spend more that I estimated, it took a little longer to rehab, the appraisal came in a little lower that my estimation, not a perfect BRRRR.

Started with a foreclosure 3 bed 1 bath house for $21,000, I lived in it and did all the work myself and it appraised for $85,000 and got a HELOC for $45,000.

I have not had an official appraisal but two of my neighbors sold their homes recently for 260k and our houses are identical in layout and square footage.

Here is an update on a black couple who, after "whitewashing" their home, saw an almost $300K increase in the appraised value of their home: https://www.nytimes.com/2024/03/25/realestate/racial-bias-ap...

He would have to have 75% LTV in the property via a bank appraisal to complete this correct?

It's also important to understand the amount of committed capital relative to assets under management (basis, not appraised value).

Current primary appraises around $625k and I owe $100k on it.

Most of our properties have had a full appraisal upon purchase or refinance.

At the moment the interest rates aren't great, and the appraisals usually aren't cheap but they can get done.  

Let's assume you did put a high down payment, on a refinance lenders will cap you at 80% of the new appraised value, leaving you with little to no money on a cash out refinance.