When I have a problem with someone I will address it and give them 3 chances to change or take an action.You approach your business in a professional manner and it sounds like your associate isn't on the same page as you. 

It has always been a plan of mine to try to purchase this 4-plex as well and since I am not getting the tenant interest that I would prefer, I think I would like to approach the owner sooner than later.  

's hold approach and would welcome if the property doesn't sell right away.  

Although I anticipate approaching family first, I want to get an idea of what paperwork I would need to pursue such a loan so that I come across as prepared as possible.

I see two ways to calculate my investment:1) Historical approach - the amount of the original downpayment plus renovation costs and 2) Present status - the value/equity that is tied up, but would reap if I sold it. 

Wow, that is an amazing approach, like I said I knew about it, just didn't know of all the benefits it offered.

Between my husband and I, we make a six figure income through our full time jobs, just nothing worth counting in savings, as we recently had some car surprises (meaning repairs) that were incredibly underestimated by our standards.

What would be the goal of this approach to investing?  

It will force us to take a more hands-off approach to managing the property, which I have heard is a good habit to get into.

You will have some rental history on the old place, hopefully a bit of equity & they can give you a good idea of what terms they are willing to offer you, which in turn will give you some guidance on how you need to approach your next deal.Best of luck.