So it sounds like you're trying to calculate maximum allowable offer (MAO), not ARV.As @Chris Seveney mentioned, ARV is the value of the property after it has been repaired, and that is derived from comparable sales.Maximum allowable offer will differ depending on the profit margin YOU want to make, given your liquidity position.I may be perfectly fine with a 30% profit margin, you may want a 35% profit margin.

Bracketing allows for the subject property to fit into a range of values that is derived directly from market data. 

I do have a long list in my profile of lenders who have done them in the past, largely derived from people on BP who posted they have used them. 

Based on the range of properties they are renting, you can derive the segment’s housing requirements.

At the end of the day, my parents maintain 70% of whatever value we add or derive from their properties. 

The 5.5% one time fee will not pay for all this activity.Maybe the sponsor is putting in huge amounts of skin in the game/cash, in which case they are deriving income from that to keep the fund financially self sufficient.

I say that because unlike residential REI, commercial multifamily values are derived from increased NOI.

It’s very cheap for the amount of data you get.Their data is not only derived by their credit reporting business.

I'm a professional equities and derivatives investor, and 100% of my real estate experience so far is in REITs.

Most small PM companies derive up to 50% of their revenue from maintenance markups.