The risk in selling was the area and low demand but having an international network access I knew I could help gather the best offers at the time.

Exactly and all of that plays into the price you're willing to sell the additional frontage for to allow for the new lane.

We have been seeking more a more passive income stream for the last couple years and are planning to unwind (sell) our portfolio of single family rentals.

So he wanted to sell two units and keep two.

Would it be wise to sell this rental property right now?

There are risks with any type of investing - and are you talking about risks when you are buying on a lease option or selling on one? 

The flood insurance is offset by $600 yearly taxes, but I am having a hell of a time trying to sell it at $93k.

The equity potential of course, but mainly I was trying to solve two issues - on one end, the seller was struggling financially and needed to sell her home but investors were aggressively trying to take advantage.

The seller wants to sell it for $50k but has requested to put it down on paper for $5k, so he can pay less tax; the remaining $45k would just be given under the table. 

I read the 30 day rental but didn't seem helpfull for hosts in different timezones.2) My old condo bill electric bill was nearly $500/month thus I had to sell.