When they start trying to bully or get manipulative, they lose any flexibility with me. 

At most I have seen 30% in a C multifamily market in CT.I understand the cap rate and the NOI determine the ARV, however, I am learning it's easy to manipulate numbers to make a property appear to be a better deal.

Quote from @Bruce Woodruff:  This graphic was posted by Nick Gerli on twitter to support his "Airbnb collapse is real" narrative and has already been debunked as being manipulated with several different versions floating around.

Vacation homes always go for more, because its temp for the guests.

Tempe is a great market, and I hope you get your deal.

People can manipulate photos, but they cannot manipulate a live video call.Also, hiring an independent 3rd party to check on things, verify completion, etc., prior to paying a contractor - can be another good alternative, and shouldn't cost much.

I wouldn't try and manipulate the system.

The number can be manipulated in the short term.  

After they have secured these cards for you, they manipulate the system to get cash from these cards making it very high utilization on your card. 

It seems like just one more metric that can be manipulated to either prove or disprove a deal where as the return is a hard number to analyze.Brings to mind the old Mark Twain quote about lies, damned lies, and statistics.