Hey Sarah, if the seller has an agent, it’s best to go through them first since they’ll likely get involved anyway.For a property that’s been sitting on the market, approach with strategy.

Anyone answering is not responding as a Tax accountant, Insurance expert or as a Financial advisor.  

My involvement would go down drastically to where the only thing I'm doing would be funding the deals.  

No one accountant is an expert in all areas in the tax code, so best to figure out what you want first in the world of real estate and then dive deeper there. 

Father can assist with some functions, but I guess the more he's involved the more one could argue that he needs a license. 

Depending on where the property is and the lender involved, and what he has told the lender, and so on and so on, you handle things accordingly.

My custodian does not have a money market or similar sweep account to keep idle cash earning.

Loopnet has some comp information, but requires a paid (and not cheap) account to see it.Commercial properties are generally valued based on income, not comps per se. 

Should I go through with taking ownership of the property and try to salvage it for profit or do I refrain from even involving myself in the situation as it may cost more than it's worth to save it?

It shows up in my online account, but they have not allowed access to the funds.