Usually appraisers ask what improvements were made. I wouldn't know what to say to that. Any ideas? As an example, say I buy a turn-key duplex for 165k in cash off-market. Maybe I make some tiny improvements. Maybe it's just some touch up paint. Say I cash out refi a month later. Say it appraises for 220k. 75% of 220k is 165k. That would be a successful BRRR on a turn-key property, right? submitted by /u/tooniceofguy99 [link] [comments]