I would try to compare what updates those houses had to what you house looks like.

The shift will begin at some point when my cash flow is comparable.

Would this be a percentage that I would compare or more of a ball park difference between properties?

Hello BP, so appreciation in condos is slower compare to a single house & it is true in my areas but because of the limitation in purchasing other type of properties, i had very little choice if i want to do a syndication on multi family units. 

How does yours really compare?"

Also, commercial buildings are more likely to be valued by the income they generate and not as heavily influenced by comparable sales.

Do you have comparable sales and rentals to assess what value should be?

The definition of all those terms are obvious, but if you're trying to back into a pro forma you're looking at or create your own how do all those elements work together?

Carpet, like many other elements in a house, does need to be replaced periodicallly, like windshield wipers on your car, which is why no warranty on a car will cover things like that. 

Though I am not entirely experienced in this subject, I recall from some of the podcasts that larger banks like BoA can sometimes offer lower interest rates on their products under certain circumstances compared to a smaller bank or portfolio lender.