The process served as a great learning experience and would have kept investing with them if I wanted to be 100% hands off.

Prosperity Bank serves both TX / OK.  

Those on-site teams would be primarily made up of cleaners and handymen, who in remote locations would also serve as my eyes on the property for any potential issues. 

The ARV % serves as a secondary calculation (i.e. constraint) on the maximum loan amount for a rehab project.

One makes a profit (ideally) and one serves a need, real or imagined.

My gut says you would be best served ordering another appraisal and staying far away from that appraiser.

I would agree with this - its probably too soon / not economical to do a cash-out refinance at this point - options for freeing up equity would probably be best served via HELOC or something to that effect

If you are building for usage by friends, family, yourself the return is not the primary intent and they serve the intended purpose. 

He was sentenced in 2021, which means he probably served time and hasn't been out that long.

Start with the end in mind and building your investing to serve your life.