Our real estate agent/broker sold us on the property because it had a side lot.

You must try to use recently sold comps that are as close as possible to your property.  

The other 2 units recently sold in a week or two.  

Hi Karelyn,  A few suggestions:  First, your agent can talk with the seller’s agent to see if there are any items that are important to the seller so that you can include them in your offer.  

We recently sold an 8 unit apartment complex that we built.  

Your tax liability would be based on your cost basis and how long you held the asset (i.e. short term versus long term), and any mortgages and liens (refi, heloc, or otherwise) would have to be paid off in full at closing if you sold the asset. 

What I do know: Privately ownedLast sold at over $600,000 in 2015Last assessment: 2016 at $128,752.1287Classification 2-09Tons of violations for poor upkeep Rat investationPoor lawn maitenanceTons of trash(doesn't seem like an issue at this time... no rats seen on the way to work)What I would like to know: Would this be worth tearing down?

Timing isn't ideal - at least in Minnesota - but I figure real estate is just like any other industry: regardless of market conditions there is always money to be made if you're creative, have a plan and the right strategy.My business partner and I have the creativity part down but the plan and strategy are items that we're working on.

Bought property for 13,500 plus 3500 to wholesaler. sold on terms to handyman employed by my JV partner.

Currently the rent barely breaks even but the price has appreciated quite a bit.Should I have the condo sold today, I would have about $260k on hand ($180k down pay + $80k profit after exp.)After listening to some podcasts and doing research, I decide my main goal is to buy and hold for the passive cash flow.