Just got the appraisal back last week on a textbook BRRRR deal we are currently working.

Not really a bomb but surprises me that he has decided to get an appraisal.

Also, the construction company says that there's a high chance that the duplex would appraise for 20% or higher than the cost to build it, a lot of their customers' homes have appraised 20% or higher, so that would mean I'd avoid mortgage insurance. 

The property is appraised at 900k. 1AC building lot should fetch about half million.

If it appraises for 125K that’s 75% LTV.  

Here in Canada you usually can only refinance 80% of the appraised value.

I have to get list of repairs/upgrades, they appraise, them loan 80% of that.

Here are the Caveats though, you can only refinance to get the amount of your acquisition cost back out + roll in refinance closing costs up to 75% LTV on a non-owner occupied property and or up to 80% on an owner occupied property.If you want cash out beyond the acquisition costs, based on a higher appraised value, you must be on title for 6 months and you can do 75% LTV on a rental, and 80% on an owner occupied for conventional loans.You can do cash out on some portfolio loans immediately after purchase to as long as 6 months after purchase.

The asking price is US$900,000.00, however the property have a force sale value of US$1,100,000 and an appraise value of approx.

The total all in price for the wholesale should be about $300,000 and with an appraisal and refinance I’m hoping it will be at $350-$370,000.