Most lenders who order appraisals are required to order them through a 3rd party AMC, which can add additional costs to the appraisal but ensures that there is no lender (Or borrower) bias in regards to the values.

I'm considering it and would really like to hear from someone as to it's value.

.• This balloon payment will be paid through a cash-out refinance of an investment property valued at $198,000.7.

So, you say will I want to take some cash out using the 200k value but most programs will require you to wait some period of time from 3 months up to 12 months for conventional before you can use that 200k value to pull cash out.This seasoning does NOT apply to delayed financing as I mentioned in my post above.  

They tend to cost more to construct then they add in value, they are generally more valuable for a property you are holding as a way to generate more income.

I bought a house 3 years ago with $420K and after 3 years the value on Redfin is about $460K so the appreciation is about $40K.

@Colleen A Levitt check if you have a prepay penalty and what the seasoning requirements would be for the new loan to recognize the new value.

They highlight the difference between the average home cost and the average home value suggested by the price of large institutional companies such as American Homes 4 Rent and Invitation Homes Inc.I suspect this is nonsense (especially as according to google their price to book ratio is positive). 

So back to being a real estate investor: the only way to be one is to buy a property and create value out of it, whether through finding a below market value house and selling for a profit, or renting and creating cash flow.  

Why sell for 90% of the value after closing costs, minus taxes.