As near as I can determine they own no Properties but co-host some and are eager to grow.  

Yes you will need the rehab to get done first before you can determine the value.

Initially, we conduct a pre-screening by sending out a basic application to determine if applicants meet our minimum requirements.

I cannot run comps on property with inaccurate information, and I will not be able to determine the ARV to make a good offer.

You can study them as well as play around with numbers to help determine what an appropriate buy box for you would be. 

Investment account looks like I get an average of 10% (not guaranteed)Just trying to determine what to focus on in the next few years.

Since there is already a contract in place saying a real buyer is willing to pay X amount, and an appraisal is an estimate of what the market will determine a property is worth, the contract price is usually what the appraisal comes back at or near in my experience.

It helps determine if the project will meet the desired profit margins.CoC (Cash on Cash Return): I find this particularly important for fix-and-flip projects, as it measures the actual cash return on the cash you’ve invested, giving a clear picture of short-term profitability.Cap Rate (Capitalization Rate): While more commonly used for rental properties, it’s useful in understanding the potential income from a property relative to its price.IRR (Internal Rate of Return): This is a great metric for longer-term projects or those with varying cash flows, as it takes into account the time value of money.Some investors might overlook metrics like AAR (Average Annual Return) or EM (Equity Multiple) if they’re not as relevant to their specific strategy.

I recommend this option, as just sitting on the property with no income is a drain on you both financially and mentally. 

Whether to invest in GVL or anywhere for that matter, should be determined by your investment goals.