Refi appraisal on trailing 12 when I raised rents in month nine

11 units, bought with rents at 950 across the board, market supports 1,150 and I've turned 7 of them at that number over the last stretch. Four are still on legacy leases that roll at staggered dates.

T-12 gross collections show about 118k. T-3 annualized shows 131k. Contract rent on the current rent roll, if you just take the rent roll times 12, is 133k. The lender's underwriter said they'd base it on T-12 with a vacancy and credit loss factor and "consider" the trailing 3. Which is a 13k gross swing, and at a 6.25 cap and a 55 percent expense ratio that's roughly 90k of appraised value.

Two things I'm trying to figure out.

First, what actually gets me credit for in-place rents rather than trailing. Is there a normal seasoning convention, 90 days of collections at the new rate per unit, or is it purely underwriter discretion? Loss to lease on the four legacy units is real and I'm not asking them to ignore it, I just don't want the same haircut applied twice, once through trailing revenue and again through a market rent adjustment.

Second, my T-12 expenses include a 14k roof repair that my accountant treated as a repair rather than a capital item. It's in the operating line. If the underwriter takes T-12 expenses as reported, that 14k comes straight off NOI and off value at the cap, on top of the revenue haircut. Do underwriters normally strip nonrecurring items if I hand them the invoice and a schedule, or does that argument die because it's already in the books that way?

Anyone who has fought this with a bank on a property this size, I want to know what documentation actually moved the number.