Call your friendly local appraiser.

Yakir - In my experience the appraiser will discount the house if their are obvious areas that need to be fixed/repaired.

Alternatively, you could get the appraisal done, let it get called out and then have a conversation with the bank saying that this is all that is needed and with it is a full contingency release.

If you call someone from your local government (land use control board, planning, etc) they should either direct you to a website that has the published information or you could pick up a copy if the info isn't "flown" on the web.Most storage units I've appraised have been taxed as one parcel with the majority of properties being owned in fee simple.

Update on the appraisal, again we are all-in at $370k with renovations and the ARV came back at $407k.

The lender will need to send an appraisal out to see what the estimated ARV (after repair value), in order to make sure that the ARV is above the cost acquired for that house + land.

There are DSCR lenders that do not have a seasoning period to use the new appraised value, however you will need to verify work was completed to improve the value of the property.

The house was appraised at 450k and we’d be paying her sister 200k.

No conventional lender (that I've found) will be able to fit all this criteria, because it's very unique.Occupancy: Currently rented on a short-term basis (airbnb), however, in the process of securing long term tenants.Gross rent (for 1 tiny house): $14,400 annually ($1200 monthly)NOI (for 1 tiny house): $9,600 annually ($800 monthly)Expected Gross rent (for 2 tiny houses): $26,400 annually ($2200 monthly)Expected NOI (for 2 tiny houses): $18,000 annually ($1,500 monthly)Value of portfolio financed at 8% cap rate: $225,000Loan terms sought: 70-80% LTV loan size ($157k - $180k), 20+ year termAnticipated or actual appraisal issues: This is where one of the main problems lies.

Afterwards the bank updated me and stated the appraised value was changed back to the original purchase price.