I could say a lot but I'll just add a few points.

I'd say a minimum of 2 to 1, assets to debt as the quick ration goes, cash or liquid assets or better.Contingent liabilities, look to maintenance and any management contract, can they terminate them and have funds for any buy out?

@Jon HoldmanIn your opinion what is the optimum ratio for say a multi family property asking price along with gross rental income of that property?

The second, a foreclosure action was started so the act of you holding the loan will result in time moving forward on the FCL timeline, however in the scheme of things unless a substantial action occurs, say a Judgement of Foreclosure or you are right on top of a FCL Sale date, then the margin of value increase is not even worth trying to measure.

But if I have to go off "new value" like you say, A commercial loan may be more attractive if I can pull out that much more cash.

No one is going to inflate their income on a tax return.It just depends on what your investment goals are, but I think most people would say a 14% cash on cash return is pretty good.

Lets say a house has a $100k ARV.

Personally I would talk to my broker get their opinion on it and see what they say as well.  

Anything over 20 & under 100, I will say a good PM is more efficient & economical.I got this from my previous RE business experience in the past.

@Jamal Atwell - Let's say a property is worth $100k and the owner owes $80k - with closing costs / fees they would need to sell at at least $85k to break even - that would only give you $15k of room.