Not just comps- have them give you a detailed market analysis which details trends in the market, average days on market, similar sales and similar listings, and the absorption rate currently and in the past in that specific zip code (not the city as a whole).   

For flipping, learn what an absorption rate is and then talk to a reputable real estate agent who can give you the numbers for those markets.  

I am working on learning my market by finding information out there such as population trend, major industries in the city, median household income, price, rent, absorption rate etc.

Look at the absorption rate in your market. 

Eight of Tucson’s 15 submarkets experienced occupancy gains, in addition to the metro area with the greatest improvements occurring in the Foothills and South Tucson areas.Since Q1 2016, Tucson has experienced an 800 units increase in absorption rates with this trend set to continue into 2017.

Town homes will be the simplest after you consider construction costs, resale comps, and absorption rate for this kind of product in the area.

That occurs when the inventory absorption rate hits about 6 months.

What that offer should be should be based on research (average days on market, absorption rate, sales price as a % of list price for the area, seller motivation/situation, comps, condition of the house, other variables).

The issue is that Class A multi-family properties are currently suffering absorption issues in Houston, with many more units still on the way to coming online in the next couple of years.  

@Taylor Ferris - when I don't know a neighborhood as well I start with the absorption rate to see what kind of market it is, seller or buyer.