I currently have 3 properties: 2 rentals and 1 primary.Primary appraised at 140k in January and I owe about 93k on it.

Paid 56K / Appraised for 115K...

With this, if the property appraises at the conservative number of $80,000 then I should be able to pull most if not all of my cash back out of the deal with the 80% LTV. ($64,000). 

For what you are looking for, I usually tell clients to be prepared for ~125k all in (roughly 15-20 in rehab) and properties will appraise for ~140.

Just had a client of mine close a property he purchased for 100k that will appraise for 275k, will need about 40k in work, this will be a true "0" out of pocket deal as my client can borrow 100% of the cost of the project even down to appraisals and both sets of closing cost and refi with zero of his money left in the deal!

On one hand, the appraisal and inspection both considers this as part of the official living size of the property.

I purchased it for what he owed, which happened to be more that it appraised for, but not knowing any better I went through with the deal. 

This really helped with the appraisal and the banker giving 65% collateral value. 

With this, if the property appraises at the conservative number of $80,000 then I should be able to pull most if not all of my cash back out of the deal with the 80% LTV. ($64,000).

Then on top of that, the place appraised at 314!!