I would encourage you to read this beginners guide from BiggerPockets, it's a good bit of information so pick and choose what you want to read or read it all.

I am also willing to provide information on the Memphis and Chattanooga markets.  

Quote from @Laura Stayton: It's impossible to answer this question with the information you provided...How so? 

Small (1700 sqft or less) medium (1701 -1999 sqft) and large (2000 sqft or more)Cost benefit analysis Estimates IF 300+ homes are built over 10 yearsAlot of technical information to say that:- When I start development, i will be going into uncharted territory. - New construction will be comped against other new construction - Start out with enough comps to justify the price point- keep the area tight to consolidate the risk vs building one or two in different parts of the same neighborhood. 

Not enough information here to answer this question accurately.Is the home a total loss? 

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I’ve only been given the information the marketer provided, and some of those numbers appear inflated.

Just trying to get started and although there is plenty of information out there, I thought the value was in getting the first deal with them and then learn how to replicate it.

@Audrey Sommer You’ve been given some completely inaccurate information.