As @Zach Mitchell mentioned above you certainly could get an actual appraisal performed on the property  however unless you have it under contract just review the comparables that resemble subject project and have sold in the last 6 months. 

It resembles a Patch of Land for just Texans. 

I see multiple offers and above asking which I hear is starting to resemble pre 2008 crises.  

That's not to mention the tenant headaches and fact that you would need to stack up 50+ cheap units each cash flowing a few hundred a month (which looks high on a percentage basis) to start to get meaningful cash flow going, which very quickly starts to resemble earned income from a job more than passive income from investment.

They resemble securities that are not exempt from registration.  

Otherwise get the freshest comps that are closest in location, that most closely resemble your property and make adjustments as necessary to make them as alike as possible.

I really like the "creativity" of the cfd's in @Jennifer Handlin situation.....a seller doing a cfd on a property that doesn't have anything resembling a clean title....what could possibly go wrong with that?  

Previous owners had painted the building 12 different bright colors that we though resembled a kindergarten classroom.

Previous owners had painted the building 12 different bright colors that we though resembled a kindergarten classroom.

IE more homes than butts to put in them.. areas of declinging neighborhoods were you have people moving out in droves.. etc etc.. parts of indy resemble that.. as well as many other mid west cities.. other cities were there are no real hoods and there are not enough homes for the butts that want them wholesaling takes on another degree of difficulty .. not that it can't be done I know wholesalers here in PDX.. but they have MONEY they close then resell HUGE difference.. this market is not kind to those who can't close it moves to fast...