Listing the milestones and taking a totally uninformed stab at the dates at which the milestones might be reached and assigning a probability to the achievement of each milestone, we can come up with an expected nominal cash flow stream (see Table 1 below).
Typically your real estate software will employ an industry - standard discounted cashflow (DCF) methodology to project and then discount future expected cashflowstreams to their nominal value in today's dollars.