Portfolio of Properties - valuation

[Eric Stieler]

Hello all,

I'm a BRRR investor thats purchasing small mf properties. I find distressed properties with good bones, rehab them for top rents.

My challenge is the valuation of the property is still performed as a small mf (1-4 units) so the neighborhood Comps dictate valuation more than my improvements or the rent rate.

I started to wonder how valuation was done for a portfolio of properties.  For instance,
 if I refinanced 8 duplexes with a portfolio loan, would the property valuation be based on the value of 8 small properties? or on the incone generated by the 16 unit portfolio?  or does it all depend on the lender?