My only concern is the fact that it is tenant-occupied.

This sounds like the BRRRR method.

Makes sense if you want to be an owner occupant, but not for an investor.So, maybe the auction sites work for some, but personally I'd rather use other methods to find properties.

Its behind a tree line and stuff so my renters don't even know it exists.A neighbor expressed concern that they would like it to look nicer and expressed interest in this land as a long term lease.

I heard about this method after listening to Rod Khleif's podcast episode # 209.

I'm concerned because you mentioned CAP rate.

If you're concerned about holding a property or letting it sit on the market for too long and losing money, consider having more than one exit strategy. 

My concern is someone familiar with the territory might just give me a guesstimate based on when the property last traded Plus or minus any appreciation.

Should be pretty simple as far as you’re concerned.

Account ClosedIf you and your colleagues have a tenants in common agreement in place and you and your colleagues own the property in both of your names - you and your colleague should be entitled to report each person's share of income and expenses on your individual tax return instead of filing a form 1065.There are some benefits with this method such as not having to file a partnership return which can cost $$Furthermore - you don't have to wait for the partnership return to be completed before you can complete your individual return.The only possible downside is that you may have to calculate depreciation separately.$1600 a year for a partnership return - I hope that didn't wipe out all your cash-flow!