There may also be a way to have a partial/full tax free liquidation.

My family owns a few properties around San Fernando Valley (if you're familiar with that area) and we have some liquid capital on hand to invest jointly in either multifamily commercial properties or SFH.

We have some liquid capital on hand to invest jointly in either multifamily commercial properties or SFH.

@Todd WheatleyNothing a little liquid nail cant fix.Like @Jay Hinrichs said unless you want to throw a hailmary discount request you cant walk away from.

At the end of the day, you're either heating air or liquid that gives off heat to warm the air. 

My main problem is that I'm just starting to get into the real estate world so I don't have a lot of liquid capital which is why I would love to partner with someone who would be willing to invest.

As you begin investing, and if you use leverage to keep your cashflow tax free using depreciation, you will start to acquire losses, that may be able to be used to offset additional gains if you liquidate more stock (work with a CPA on this).  

If it wasn’t for other family involved, I’d bulldoze most of it, redevelop into commercial what I could, and liquidate the rest.

@Brian Balthasar since it is 'reserve funds" for emergencies and immediate use it should be in liquid assets that will not likely drop in value.

Google "eviction attorney" and the city the apartment is in, and make a few calls to get some prices (you can always ask if they take credit cards if you don't have the liquid cash at the time).Let the authorities handle any "trouble makers" if needed (that's their job).Good Luck!