Yesterday I met with my multi-family appraiser friend, just to validated our new value before pulling the trigger. 

I am looking to begin the coursework toward staging my appraisal license.

I did the math below if anyone is interested in specifics.The home was appraised for $385kCurrent loan amount is 260kClosing costs on refinance are around 10k with escrowsI should get 30k at closing could I get more money from a

Offered 10k over listed price but wasn’t willing to bridge the gap but I did offer to pay 1k over appraisal, luckily for me the appraisal came back at the original asking price and saved me $8k.

Assume everything is obsolete unless a good appraisal identifies something in good shape.imho

So a drive by appraisal would be ideal.

All fee's should be paid at the closing table, with exceptions for the appraisal, and survey if needed.

There will need to be an appraisal to determine the value of the home. 

Bought for $62K cashRehabbed and paid a crappy PM $37KLow Appraisal at $110kGot about $77k back with the Cash Out RefiRented for $1100/monthJust raised the rent in 2021 to $1185/month$1185 rental income-$598 Mortgage PITI-$118 10% property manager (Self managed now)-$118 10% Cap Ex-$118 10% Maintenance-$94 8% vacancy=$139 Pure Cash Flow per month What made you interested in investing in this type of deal?

Then, the rehab cost was 78K where I used 53K from the rehab loan money plus 25K from my pocket. and now for the refinancing I got a loan for 217.5 K (which is the 75% of the appraisal value *I looked everywhere to get an 80% but no luck there*) and checking on the document I actually paid 8K on that closing.3) the property is rented for 1.7K tenants pay all the services + lawn care + snow removal4) My monthly payments that include PITI is $1,139. and that is for the refinance mortgage which is a 30y fixed at %3.625***on side note this numbers are rounded up to make easier the math and so I can understand better :)thank you for helping me