After the land purchase, for cash, the design drawings were appraised and the selected builder was qualified by lender.

More price drops, more falling out of contract (I suspect because they don’t appraise at contract price).

I assume this has to be rectified before I get an appraisal for the refi.

Income past two years, assets that can be verified (not cash), property that appraises, tenants who pay... 

If you overpay for the property by $30k-$40k you'll likely never recoup that loss.To ensure you don't make a mistake on the property itself always get a home inspection and an appraisal.

I have a condo that appraised at $130k.I have a loan for 85k.My equity 45k.Can I get any cashout on small equity minus the closing costs?

It starts with an appraisal and HELOC application of the primary.

I just had my home appraised for a cash-out refinance and it went up 15% in 6 months. 

We stayed true to the style of home when rehabbing.Did a personal appraisal because I thought it was worth more than the going price of the neighborhood.Comp came in at $100k, in a typical $50k neighborhood.

The reports are 40-90 pages long and go through the entire house in great detail.Get an appraisal.