Do you have any tips on how to maximize the appraisal value without major construction.

I'm thinking I need $1M to build out phase 1 of the project (purchase land, complete horizontal construction, and lease up the units).

Even as a new investor, every body has some type of value to offer, it could be money for one of his investments (which could be less than you ever think it has to be), could be time and effort that you can offer him to find more deals or maybe you have a construction background. 

The development is still under construction  so I have time to do research.

This is for new construction, I want to minimize the development cost, some areas are ridiculous for fees.

What you want to have is enough completed that it doesn't look like a total construction site when you take pictures or bring people through. 

Location, type of construction, school zone, and the possibility of good equity accumulation.

At least, that's why I live in a construction zone.So this permit is really old, and the mechanical rough happened probably 5-1/2 years ago. 

I would not recommend this for a first timer unless you have construction experience and prior experience with a local Architect to assist.       

The process of sharing other contractor's bids in order to negotiate a lower number is called 'bid shopping', which is generally frowned upon and considered unethical in the Construction industry.I understand you want to get the best deal and make the most money on your projects, but Contractors are the lifeblood of a rehabbing business and your Contractors need to make money too!