Technically, developers come up with a land value for what a builder may be able to pay for paper lots by using a proforma (financial model) to determine a residual value. 

This includes understanding your budget, securing financing if needed, and determining what you can comfortably afford.Research is key.

https://air.tl/5cmk2bQaPricelabs has a nice feature where I can set the distance or draw the properies to include for determining the market.  

Having rental property is not what determines if you are going to take standard deduction or itemized deduction.

That will determine the best marketing strategy to get your listing in front of the right eyes.

Checking their calendar helps you determine if there is strong demand.

Nobody asked them to determine the "highest and best use" only a market valuation based on its current use!

@Jean G.The reality is: it dependsIt’s a numbers game where you need to first determine: what yield do I want and what are the outcomes/ risks involved that could impact thatBuild yourself a financial calculator to understand this but also understand you need to know every process and how much it costs and how long it takes90% upb on a commercial property in a non judicial state with equity and default interest at 15% is a great deal but take that same asset in another state which also has long eviction laws and it could be awfulLastly bankruptcy could wipe out some of your lien depending on the type and how the loan was written.

You will have to pay for an appraisal to and depending on what the value is it will be up to you to determine if you want to proceed or not. 

The neighborhood often determines what you can do.