But, generally, this is not very accurate.Anyway, there are a few more techniques they can use, but this gives you an idea of how they should go about it.So, as to your specific question, YES, you can most definitely dispute the appraisal if you think there are legitimate reasons to.

Would you all feel comfortable or is it safe to have a mortgage on the property if the value is just the land at the beginning of the build?

Well, it's boring if you don't like scuba, snorkeling, boating, swimming, fishing, the Mayan ruins, Xcaret, riding around in golf carts, a marina, Dolphin Encounter, etc. in a very secure, safe environment that has a very low crime rate, and is constantly patrolled.

I think being emotional is great, it means you care and you got into the business to make money and to provide safe affordable housing to people who can't purchase a home.  

But is it safe to invest there?

I am curious and I want to do everything properly and safely!

I have since put everything back on ebay and have sold it all, getting most of my money back. ( Very proud of myself for figuring out a way for a broke *** red neck idiot, to get basically a free Real estate investing education which so far has made me a buck or two,)    :)     Even today when I feel I need to get current in trends and techniques I go to ebay for some easy listening material, but I've found that most of it is just rehashed fluff from the origional gurus from my early years.

Didn't you market a number of funds claiming they were "safe for retirement?"

Better safe than sorry.Changing the number of baths and square footage is going to be an easy thing to spot when it doesn't match what's recorded at the appraisal district. 

You can get over 5% on a 26 week TBill on treasury direct while you wait for opportunities to emerge as interest rates continue to correct the market.Be safe out there.