Long delays can force a lender to order a second appraisal to ensure the value of the property.

Second, I don't understand how one can "force 10% appreciation" under the circumstances described.  

We then plan to move out in a year and Airbnb all three, which for the area should be very lucrative.In the long run, we could remodel and force appreciation, fingers crossed and sell.

You could get some bills paid off and then do some buy and holds or at the least force some equity for a buy and hold.

One of the most successful buy and hold investors I know started buying multis with my hard money financing, fixing up and stabilizing, and then refinancing conventional after he had forced appreciation with the improvements and tenants. 

Newtons law - Objects in motion stay in motion and objects at rest stay at rest unless acted up on by another force.

The ways to make $ in RE are:1)Cash flow (and this changes over time, day one cash flow does not equal year 10 cash flow)2)Appreciaton (both market and forced)3)Mortgage paydown (through amortization)4)Tax benefitsIf you are not considering ALL of these things and you are not considering them over the ENTIRE LIFETIME of the investment, then you are NOT running ALL of the numbers and are likely missing some very important details.

Guy knew what he was doing though.At any rate it's unlikely you can force the guy to dress when someone is coming over.  

Well I was in the thick of it back in the day.. both as a HIGH volume real estate agent ( owned and office and had a team) and HML in the Deep south. so I think I can speak to this a little.For the CA borrowers it was all credit score driven... and just like today were you see posts I live in LA but need to invest other places.. lenders made those loans far to easy for folks who eventually lost the assets.. in the DEEP SOUTH  and I mean Mississippi can't get any more deep south than that I was the largest hard money lender in the state for many years doing 300 plus loan in Jackson a year. for fix and flippers who sold not only to investors for rental purposes ( see above almost all out of  state) to homeowners.. the issue that caused much of this is CRA never mentioned and most don't know what it is .. its the Community Reinvestment ACT that Clinton put in.. it basically forced banks if they wanted to work in certain areas they MUST provide loans for the citizens who live there...

Therefore, by nature of it's use, that unit is evading New York City's mandatory hotel tax of 5.785%To curb this growing issue (AirBnb has an estimated 25,000 active listings in the 5 boroughs), Mayor Deblasio has created a special task force to seek out, inspect and impose monetary fine's on the individuals responsible.