Lenders favor an appraisal more than a Realtor's comps, so they can help you solidify a more accurate ARV number.

@Christian Smith everything @Craig Curelop stated above is 100% accurate and you should implement those items.

I'd also like to get into development of commercial properties after I've gathered a bit more experience.

Yup, that'll be ballpark accurate. [ Sum of point adjustments * .25 = rate bump ] will be ballpark. 

Let gather the pieces and figure this out.

I know people will disagree, but that is my personal opinion.Ask the right questions to gather the information needed to judge what the rough repairs of the property will be.

Not sure what state you're in, but if the local laws are tenant-friendly as opposed to landlord-friendly, you may have to wait several months before you have the option of evicting them.Speaking of top-line revenue: without knowing where this property is located, it's hard to tell whether your monthly rent estimates are accurate or not. 

Originally posted by @Mark Miles:“I wanna rent a vacation house in November in New Jersey / Ohio / Nebraska / Indiana” - Nobody everNot 100% accurate ..I am in the snow belt 40 miles from Wyoming and 80 miles from Nebraska and my STR is crushing it in January.  

Not sure how accurate this will but I gave it a quick shot.

If you can’t personally appraise that house yourself with confidence more accurately than 8.5% what are you buying it for?