Appraisal after re-hab

[Heeyeon Chung]

Hi everyone,

I am considering to buy a property with hard money, rehab, and refinance it and run it as an Airbnb (Brrrnb). 
I currently have one successful airbnb in the area and has a great team for construction and management.  

I am curious to know how I should project my ARV for refinance. I searched both pending and sold properties within the last 12 months and calculated average sq/ft amount to project my ARV. Because this is my first time using hard money, I am afraid that I may not be able to project ARV correctly. Is appraisal becoming more and more conservative in the current market?

If you have any recent experience with ARV projection/ refinance and insights on how to raise ARV after rehab, I'd highly appreciate it.

Thank you so much!