It's possible you'll get some kind of settlement from the bankruptcy, depending on how it all shakes out.  

I don't know why I look at it like that, but I can't shake that thought.I am guilty of drinking and reading on BP. 

Then you don't have to pay him anything- you shake hands and walk away.

Assuming you don’t need this money to live day-to-day, and you’re able to handle expenses on the property, AND you get along really good with your siblings, then my opinion would be hold for now while the market shakes out.

I don’t want to shake the tree too hard day one but also need to let them know that this free for all mentality is unacceptable. 

We are American, we shake hands and make eye contact.What about the majority of Europeans, they kindly kiss both cheeks and give a warm embrace.  

I'm just shaking my head.

Or would you recommend waiting until things shake out and return to somewhat normal in the lending world before getting the rehab loan?

I clearly did have that part in my paperwork that one could not smoke in or on the property, and I saw massive butts on my porch and charred black marks where she put out her cigarettes on my cedar shake siding.

Shaking my head.