Yes, Silicon Valley has been perpetually 'Hot', due to the high tech jobs and life style in the area. 

Not saying he is wrong because he is involved with more "wow" factor rehabs because of the area he is investing.

What factors influence their decision to sway this in my favor?

I used those things as motivating factors to be the reason I made it. 

Accurate prices are hard to come by because it depends on time of year and local factors. 

Your response rate is dependent on a couple of factors.

@Michael Dunn, it is income and eventually yes a lender will factor that into their DTI equation for you.

Be very conservative on your ARV (final sale could be 10%-15% below your asking), don't forget to factor in construction overruns and discovery work (typically budget a 15% cushion), don't forget to budget acquisition costs (6%-10% of purchase price), selling costs (6%-10% of ARV) and holding costs (be conservative it will almost always take longer than you think or than your contractor tells you and may take more time than anticipated to sell and for buyers to secure funding).  

I'd rather take a very hard look at my spending and lifestyle than dip into my retirement accounts.

There are lots of great amenities like the Zoo, Botanical Gardens - many of which include free admission for residents because of historic endowments, Forest Park is larger than Central Park, and there are so many other beautiful historic parks (Tower Grove Park, Benton Park, Lafayette Park) and a variety of unique neighborhoods that offer different lifestyle and investment choices.