Anyone ever appeal an appraisal report for the projected STR rental data?

[Grace Santos]

I have a short term rental in McKenzie Bridge, OR that I'm doing a cash out refinance right now and just got the appraisal report back. The ARV came back reasonable, but on the report, the appraiser only used Vrbo data and no Airbnb data, which many of my neighbors use both platforms. They also put that we have been marketing the property for 3 months, which we just listed it 2 weeks ago so that makes no sense why he would say that or where got that. Our rental is new so he's using projected, but has anyone who has had any new listings challenged the rental data on the appraisal report and been successful and how did you go about it?

Also just to add, we did provide an entire packet for the appraiser of the updates, added value, AirDna data with occupancy rates and market data of neighboring comps. The appraiser also called me to ask these things. Any guidance is appreciated. 

[Zach Edelman]

@Grace Santos what you can do, although tedious, is gather AirDNA comparables and then use google maps street view to see what the actual address is and send the address, the Air BnB listing, and the AirDNA printout for those specific comparables to the appraiser. 

However, a way to make this even simpler would be to just use a lender that can qualify the rental income with AirDNA projections so that you don't even have to go through this exercise and aren't at the mercy of what the appraiser is/isn't willing to do. Plenty of appraisers have little to no experience in STRs as this asset class (if one wants to even call it that) is relatively new in the REI space, and thus, the method suggested above is probably not that likely to succeed.