Thanks for the insight as I am factoring the risks as well.

@Celina Sherbrooke there are a lot of factors that need to be explored when it comes to selling raw land.  

Perhaps investors are willing to buy with lower cap rates, perhaps investors are willing to speculate more, perhaps there are rent control rules/laws that need to be factored into the analysis, etc. 

If those 40-55k comps are "after repair" comps, then you need to factor in the cost of repairs.2) What the current owner bought it for in 2005 is largely immaterial.

Or if an end buyer is putting up the money will they just cash me out on the front end ( most likely scenario if you have a cash buyer)  yes or no.Just go through this list and then ask him or her the pro's and con's of each and what your risk factors are..  

Are you factoring in maintenance, capx and vacancy in your cash flow?

@Patricia JohnsonWelcome to the site.Your credit will still be a factor.

Too many factors and really it is all about the numbers... and the work you need to do to get them into decent shape.

There are several factors at play.First off, you need determine your max price before you get caught up in the emotion of the auction. 

I know I skipped some of the math such as vacancies, turnover maint, appreciation etc but I wasn't sold on these being the major decision factor (please DO correct me if I'm wrong here)What am I missing?