I even have a 5 unit with retail stores in it, a commercial loan, and they still weighted "comps" as the best way to value it.To your original question, ARV can be done by the banks appraiser, although if you have really good knowledge of the area, you can estimate it to start.Using a real life example, I came across a bank owned property for $60k and I knew comps for fixed properties were around $100k. 

If it is really an issue for him and he thinks buying his own stove will solve it and you are okay storing yours let him do it at his cost. no rent reduction. not sure if there is another safety shutoff you can use.

Their paint is of average quality and most painters suggest better quality manufactures by paint stores. 

Background:-Both work with total annual income of roughly $90k-Both have near 800 credit scores, zero debt other than our mortgage of $1600 (tied to sale mentioned below)-Once we sell our current project we should have $130k liquid cash available to put towards down payment. 

Since we are three Partners who work virtually we use Basecamp for project management and Google docs to store collateral and Company files.

I've personally gone on to a home improvement store website and just filled the cart up to get a rough materials cost estimate.

As @Keegan Lunsford said you would need on the low end at least about $30k in liquid assets in order to make hard money work.

I ultimately said no but here is a little why- Didn't have 1099 information - You have to ask for their bank statements as I determined this applicant was ultimately feeding his checking account from his savings to stay liquid. 

Add in a dash of his buddies using the property to store a whole mess of crap they picked up off the side of the road...yeah, I officially HATE drywallers.

I am trying to determine value so I know how much I can get from a lender.This building was once an old grocery store in town, it has been converted to a 3 unit apt building.