You can also create a basic scope of work and get ballpark estimates from contractors or use cost-per-square-foot averages for your area.To determine ARV, look at recently sold comparable properties in the area that are similar in size, style, and condition to what your property will be post-renovation.

Ask if they had X, Y, or Z work done in the last 12 months, how much it cost, and who did the work. And

Or maybe by then you will just bypass the STR thing and go a different direction.STRs are a lot of work and not the shiny object they used to be.

My realtor thinks we can still make it work and meeting the ridiculous appraisal requirements imposed by Chase is less risky to the deal than switching lenders. 

A prudent investor doesn't seek quick riches through shortcuts.

Better materials such as stronger  lumber were used when the earlier vintage properties were built and many  contained design characteristics such as stone or brick work and intricate millwork that are too costly to replicate today meaning many buildings are significantly below todays replacement cost. 

I have nonetheless interviewed for work and just signed an offer in Greenville SC.

You can do residential, but its a ton of work and no matter what, there is tons of competition.

I want to keep away from any short cuts , I am not looking to take large cuts from sellers (I’m a true agent at heart and looking to serve my clients) .

So it can definitely be done, it just takes a lot of work and persistence.