In many counties a tax certificate could have been sold (thereby making the taxes current) and the county will not volunteer that information.

They suggested 85 cents on the dollar.So, let's say they spend $100k on the building improvements (furniture, equipment not included).They want that to count as $85k toward the purchase of the building at that future improved value.So future value could be established as 420k + 100k = $520k.50% ownership would cost $260k, minus their credit of $85k = They would contribute $175k cash to obtain 50%.Is 85% credit the right number? 

This means that you can currently not obtain any "new" purchases with conventional financing.

I had not used him in the past.This person also tried to obtain money via a claim of completion on an insurance roofing job.  

This is a great place to meet new people and obtain great knowledge.

Some of them are enticing because they are occupied multi-family forclosures or bank owned sales.One of the transaction details is  "This property is reported to be occupied and buyer is responsible for obtaining possession."

Here your 401k will be listed with other investors on a first position loan along with its percent interest.A knowledgeable broker (whom you should check out -- another topic) will have vetted the borrower and the property and should have paperwork obtained from a lending attorney.

You would have an appraisal completed by a local licensed property appraiser to obtain an opinion of the current market value of the property.

Anyone out there have creative ideas on how to obtain funding (for a quick close) for a development?  

In order to obtain a rental license, you will need to apply for a commercial activity license, which is now free.