Funny thing is the bank's appraisal always came back the same exact amount as the city regardless of purchase price.

Amount?

You will not have the same restrictions on the amount of loans you can do.

Is it better to pull the max amount from the Cash Out Refinance on my four plex or only what I need?

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

If a discount is offered it will list a different amount due for October, November, December reflecting the discount

One lesson I have learned over the years is that some types of debt are not bad, as long as you are earning a reasonable amount of cash flow.

If I were you, I may try and target a property that needs a significant amount of work, whether on the market for a long time or off-market where you can get a deal and don't need to be in competition with other buyers.

If the income level in the zip code is very low, you will have a large amount of churn.

It seems like a good amount of those issues stem from sub-par property management.