I'm looking at an appraisal report for a purchased residential multi-family property that is to be gutted and renovated into a single-family home.

The appraiser has nicely valued the completed project with similar SF homes in the area.

But I'm looking at Interagency guidelines and wondering where my "as is" value is. The appraiser omitted that citing that the highest and best use would be as a SF residence. This is supported within the report. It looks like USPAP will allow an as completed value as of today's date, but is this in keeping with the interagency guidelines? Don't I need an "as is" value as of the current date? Any thoughts on this from others that have seen this before? (Maybe I just have a URAR problem too....need to go back to those commercial narrative appraisal reports!)