We are now managing a 4 unit investment property in Oak Park IL for a family member.After their unexpected passing we found that there was a reverse mortgage on it.Property fair market value is about $335K with foreclosing Lenders estimate of $495K.The lender started foreclosure process, but we want to keep the property either to keep it as an investment property ($41.7K rent -$10K taxes -water), or sell in the future when prices pick up.With the current market we cant get a fair shake on the price, and we had some funny low ball offers from people/investors wanting to take advantage of the situation.We are looking to either partner with someone knowledgeable and split up the units and future rent profits, or loan $285,000 cash in exchange for a 30% percent stake of the home's future appreciation.What would be a better sounding offer to you as an investor?

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I am aware that even with a contractor team, unexpected costs, and holding costs associated with it, will add up.After reading this site more and more, I am also learning about wholesaling and Tax Deed Sales.  

It sounds like I'm still within the limits of what lenders are looking for with my 45K, and that I had just been talking to lenders with really strict/unexpected limits.

@Sam Leon @Udayabagya HalimGood ideas to actually achieve the objective without being "intrusive".Have you ever found any totally unexpected surprises inside the properties from new tenants that looked good on paper after they have settled in for a couple of months?

Ensure you have always 5-10k cash reserves as unexpected things can happen (if you are handy and have time 3-5k reserves are enough) Pm me and I can give you more advices

In fact when we consult on portfolio liquidations, the biggest key component is the pre-trade setup.  

.  ;-)Here are some other BP links that may help...http://www.biggerpockets.com/renewsblog/2014/04/21/estimate-rehab-costs/http://www.biggerpockets.com/renewsblog/2009/11/5/...http://www.biggerpockets.com/renewsblog/2013/03/17/tultimate-guide-house-flipping-costs/Now, as for practical advice, I have a spreadsheet where I have broken a house down into components (see below). 

I like the cash flow from businesses but also like the value add component of owning commercial real estate.

If the structures are newer then large reserves would not be expected as they build over time as "components" reach the end of their useful lives.