Commercial Appraisers - How do you determine operating expenses?

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Hey BP -

In the coming months I'd like to refinance a 5-unit multi I've been rehabbing. I'm trying to get a rough idea of what my ARV will be. I have a good idea what the cap rate for this area will be, and I know what I'll get for rent, but I'm not sure what a commercial appraiser generally considers when adding up the operating expenses. Will they take my verified inputs (taxes/insurance/utilities/repairs/maintenance/PM/vacancy/misc) at face value? Do they research these numbers independantly? Or do they use something similar to the 50% rule? As you know, minor variations to the operating expenses can change the value of the property dramatically.

Thanks!

-Jared