Yes....but be aware a refinance appraisal is going to be more conservative than market value, so keep that in mind. 

I did a little bit of asking around and someone told me I could get an attorney and an appraiser and that would take care of it, is that true?

Implied in that statement is that the appraisal comes in at a high enough market value as well?

This can be done at any time, and is based on the current appraised value, but if the appraised value is higher than the one that the existing loan was based on, it doesn't matter (as long as it isn't less).

Also you need to include the water and sewer like others mentioned and the closing costs should be ~4-5k (appraisal, title, legal, etc.).  

This means the appraised value of a rehab has got to be VERY high to be able to get my money back out and still cash flow.

Appraiser is asking me for 3 comps. :)Can someone here help out?

Before closing, i would get an appraisal of the property to know approximately what my market value is. 

I want to take benefit of low interest rate but the 8-9K increase in loan amount plus additional charges about appraisals, etc is making me worry if I should go ahead or not.Thoughts and comments are welcomed.

I’ve paid over appraised value and I’ve had sales prices dropped to appraised price.