Except that only an estimated 9% of that $$ actually went to Covid related issues.Add to this the $200,000,000 in unfunded liabilities due to (largely) the CalPERS dilemna.

Check out the bestselling BiggerPockets book, "The Book On Flipping Houses." and "The Book on Estimating Rehab Costs", by J Scott. 

My renovation estimates may be high and the ARV equity might be closer to $150-160,000.

My bigger concern is your estimation of higher rents than current.

I now think of a % figure as a good way to compare deals, but not a good way to evaluate individual deals.I'm looking for rough estimations through this form to hopefully crowdsource reasonable estimates for an average 2 - 4 unit multifamily in Ohio.

You must know the REAL ARV (after repaired value) of the property, You must get an accurate rehab estimate and ask a reasonable price that includes your reasonable assignment fee.

So their estimation better be bang-on. 

Deal Term: 15 Years Total Buildout/LL Cost: ~$12.8 million (prior to financing costs) Average Annual Lease Revenue: $961,500 - Total Lease Revenue estimated to be $14.4 million over term of the deal.From a pure cash flow perspective - obviously wouldn't do this deal, but factoring in a likely exit within the next 15 years w/ a great credit tenant...

That is why a "good" estimate from the lender will give you a 'cash to close' value.On the refi, the "closing costs" should be very limited to just some fees. 

How do you estimate rehab costs of a cosmetic fixer-upper without seeing the property in person?