There are many things besides land that are unique and irreplaceable and not directly comparable to other similar things (art, literature, specialized knowledge, experience, time spent, etc.).

Some loans have a restriction on how much more you are selling the property compared to what you paid. 

Worst case scenario you learn a comparatively cheap lesson by just having a low CF house with too much dead equity in it.

Use GRM is pretty easy if you have sales prices and rents of comparable properties. 

These tend to have the best ROI when compared to other investments such as office space, warehouse, retail, etc.

The title costs will be minimal compared to the headache you will go through if you missed a lien or some other encumbrance, missed the required margin requirement on the deed, etc.  

Even their website and portal is high school quality compared to other firms. 

Less than a 2 hour drive from SF and the barrier to entry (a.k.a. price) is much more approachable for someone starting in the business compared to the Bay Area or along the coast of CA.

However, when compared to Kansas City, Memphis, or Ft Meyers, Knoxville is still a small market.

With that in hand, you can compare similar existing units and determine rent comparisons to have a credible feasibility plan for your lender.