Last appraisal we got was $560k (*the reason the appraiser said it was so low was because there weren't enough similar houses sold to really base my home price off of).Upstairs is a duplex 4b, 2baBasement is 1b, 1baShared laundry roomMy wife and I live in the basement and tenants live above us. 

So in a situation were they have a deal under contract but cant find a buyer for it, they call me, to see if i can find one.

My relative inherited the PO and  didn't need an attorney but the PO required negotiation with a company called JLL who took a 4% commission on the 5 year price of the lease.

Is it possible for me to refinance my half of the property so I can get my money back out to purchase another?

Looking to start diving into the cold calling/knocking game.

If so, how are they appraised?

My plan is to also rent the main house so I don't have very clear how to handle it.

Hey Shayan, if you want send me a message and we will get on a call I will give you my opinion on it. 

So something like $250,000 at 5% for 30 years.

So any additional exceptions, whether for purchase price or even total loan amount, would be more likely if you can show a healthy SREO.