An investor will generally waive appraisal and purchase with an inspection only and close within 2-3 weeks.

Quote from @Brandon Croucier: Hi John, You can simply ask an appraiser to give us his opinion on the market rents.

We had a couple properties that the appraisal come back lower than we thought so that killed the refinance.

Typically the only fee a lender will ask for is an appraisal fee, that is typically paid directly to the AMC though not the lender. 

Tbh, if its really that critical to their argument I would just pay an appraiser for a limited scope appraisal which in my area runs about half price because they don't need to visit the property to do it. 

After purchase, you can do a cash-out refi of 75% of the appraised value to free up your cash again, and repeat.There's also DSCR (debt service coverage ratio) loans.

Hi Aya,The value of the home will remain consistent with all other comparable homes completed in an appraisal. 

Finally, obtain a professional appraisal post-renovation to accurately determine the new value of your home.

Hi Patrick - I would suggest to get the professional appraisal done.

Underwriters want to see that the property is in an area that will support the valuation of the property with numerous comps so they can have confidence in the appraisal.