Messy Real Estate Inheritance Advice Needed - Orlando, FL

[Yuri Woitscheck]

Little lengthy but the back ground is needed to frame this up and desperately need advice on how to navigate a situation on a property I inherited.  I have two very unreasonable half brothers involved, which I have been struggling with for 2 1/2 years to find a solution, hence the reason this messy.  Currently they own 16% each and I have own 68% interest in the property (they obviously believe they are entitled to and want 33.3%) which is 2.25 acres in an affluent area just outside of Downtown Orlando (tough to find that much land around there).  The property appraised at $450k, we own it outright, but is in poor condition, and one of my brothers is squatting in the house.  In his tenure there over the last 2 1/2 years a garage converted into a mother in law suite burned down and has put the property even further in disrepair.  If the house was rehabbed and mother in law suite rebuilt this could be a very nice cash flow property or could be flipped for much higher than $450k. 

Current options I am facing:

1. Legally press for a partition which would force a court house sale (no body wins but another investor unless I try to buy it myself at auction to get rid of my brothers)

2. Currently have an offer $220k to purchase my 67% from a neighbor who believes he can negotiate the rest of the property away from my brothers. Ultimately, I would use this money to strike out on my own Real Estate investing journey.

3. Try to find a parter, get the capital to buy my brothers out, and rehab the property for a flip or longer term rent and hold?

Any advice would be really appreciated.  I'm struggling with continuing the fight after this amount of time or taking the money and turning into another Real Estate investment

Thanks BP Team!  New to site but loving this community so far!

[Jason Wray]

Yuri

Sounds like you have too many hands on the cookie jar and legal issues.  I would say take the money and buy another property without family involved.  Any time family tries to work together in my experience there always is an issue down the road.  This way here you keep your investments safe and your family from having to have uncomfortable conversations.