FORM 10-Q

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

For the Quarter Ended                                Commission File Number
September 30, 1999                                            0-14386

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
             (Exact Name of Registrant as specified in its charter)

      Delaware                                           16-1245153
(State of Formation)                        (IRS Employer Identification Number)

2350 North Forest Road
Suite 12 A
Getzville, New York  14068
(Address of Principal Executive Office)

Registrant's Telephone Number:      (716) 636-0280

Indicate by a check mark whether the Registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes  X   No
                                              ---     ----

Indicate by a check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K is not contained herein, and will not be contained, to the
best of the registrant's knowledge, in definitive proxy or information
statements incorporated by reference in part III of this Form 10-Q or any
amendment to this Form 10-Q. (X)

As of September 30, 1999 the issuer had 23,365.9 units of limited partnership
interest outstanding.

<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------

                                      INDEX
                                      -----
<TABLE>
<CAPTION>
                                                                                    PAGE NO.
                                                                                    --------

PART I:           FINANCIAL INFORMATION
-------           ---------------------
<S>               <C>                             <C>                                <C>
                  Balance Sheets -
                           September 30, 1999 and December 31, 1998                     3

                  Statements of Operations -
                           Three Months Ended September 30, 1999 and 1998               4

                  Statements of Operations -
                           Nine Months Ended September 30, 1999 and 1998                5

                  Statements of Partners' (Deficit) -
                           Nine Months Ended September 30, 1999 and 1998                6

                  Statements of Cash Flows -
                           Nine Months Ended September 30, 1999 and 1998                7


                  Notes to Financial Statements                                        8 - 19


PART II:          MANAGEMENT'S DISCUSSION & ANALYSIS OF
                  FINANCIAL CONDITION & RESULTS OF
                  --------------------------------
                  OPERATIONS                                                          20 - 23
                  ----------
</TABLE>

                                       -2-

<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------
                                 BALANCE SHEETS
                                 --------------
                    September 30, 1999 and December 31, 1998
                    ----------------------------------------
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                      September 30,                   December 31,
                                                                                          1999                            1998
                                                                                          ----                            ----
ASSETS
------
<S>                                                                                 <C>                                <C>
Property, at cost:
     Land and improvements                                                          $    244,300                       $    626,300
     Buildings and improvements                                                        4,336,553                         11,385,396
     Furniture, fixtures and equipment                                                   537,500                          1,237,500
                                                                                    ------------                       ------------
                                                                                       5,118,353                         13,249,196
     Less accumulated depreciation                                                     2,497,351                          5,598,075
                                                                                    ------------                       ------------
          Property, net                                                                2,621,002                          7,651,121

Cash                                                                                     127,114                             29,981
Investment in mutual funds                                                             2,623,308                               --
Escrow deposits                                                                          141,717                            437,505
Prepaid expenses                                                                           1,924                             69,613
Mortgage costs, net of accumulated amortization
     of $31,970 and $69,127                                                               95,909                            182,879
Other assets                                                                              20,131                             13,970
                                                                                    ------------                       ------------

            Total Assets                                                            $  5,631,105                       $  8,385,069
                                                                                    ============                       ============


LIABILITIES AND PARTNERS' (DEFICIT)
-----------------------------------

Liabilities:

     Mortgages and notes payable                                                    $  3,950,000                       $  7,241,726
     Note payable - other                                                                 98,331                            208,331
     Accounts payable and accrued expenses                                               734,602                            670,189
     Accounts payable - affiliates                                                     3,393,832                          2,780,685
     Accrued interest                                                                      5,860                             27,781
     Security deposits and prepaid rents                                                  67,483                            147,117
                                                                                    ------------                       ------------
            Total Liabilities                                                          8,250,108                         11,075,829
                                                                                    ------------                       ------------

Minority interest in joint venture                                                       (36,954)                           (36,954)
                                                                                    ------------                       ------------

Partners' (Deficit):

     General partners                                                                   (526,499)                          (528,652)
     Limited partners                                                                 (2,055,550)                        (2,125,154)
                                                                                    ------------                       ------------
           Total Partners' (Deficit)                                                  (2,582,049)                        (2,653,806)
                                                                                    ------------                       ------------

           Total Liabilities and Partners' (Deficit)                                $  5,631,105                       $  8,385,069
                                                                                    ============                       ============

</TABLE>

                        See notes to financial statements

                                       -3-
<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------
                            STATEMENTS OF OPERATIONS
                            ------------------------
                 Three Months Ended September 30, 1999 and 1998
                 ----------------------------------------------
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                                  Three Months             Three Months
                                                                                     Ended                     Ended
                                                                                 September 30,             September 30,
                                                                                      1999                     1998
                                                                                      ----                     ----
Income:
<S>                                                                                <C>                             <C>
     Rental                                                                       $   395,015              $   689,977
     Interest and other income                                                         35,337                   98,195
                                                                                  -----------              -----------
     Total income                                                                     430,352                  788,172
                                                                                  -----------              -----------

Expenses:
     Property operations                                                              472,942                  513,604
     Interest:
          To affiliates                                                                60,774                   58,080
          Other                                                                       303,596                  200,099
     Depreciation and amortization                                                    124,782                   90,874
     Administrative:
          To affiliates                                                                84,837                   90,251
          Other                                                                       119,082                  150,058
                                                                                  -----------              -----------
     Total expenses                                                                 1,166,013                1,102,966
                                                                                  -----------              -----------

Loss before allocated loss from joint venture
     and gain on sale                                                                (735,661)                (314,794)

Loss allocated to minority interest                                                      --                     27,495

Gain on sale                                                                        1,367,450                     --
                                                                                  -----------              -----------

Net income (loss)                                                                 $   631,789              $  (287,299)
                                                                                  ===========              ===========


Loss per limited partnership unit before gain on sale                             $    (31.48)             $    (12.33)

Gain on sale per limited partnership unit                                               56.77                     --
                                                                                  -----------              -----------

Income (loss) per limited partnership unit                                        $     25.28              $    (12.33)
                                                                                  ===========              ===========



Distributions per limited partnership unit                                        $      --                $      --
                                                                                  ===========              ===========

Weighted average number of
     limited partnership units
     outstanding                                                                       23,366                   23,366
                                                                                  ===========              ===========
</TABLE>

                        See notes to financial statements

                                       -4-
<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------
                            STATEMENTS OF OPERATIONS
                            ------------------------
                  Nine Months Ended September 30, 1999 and 1998
                  ---------------------------------------------
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                         Nine Months                 Nine Months
                                                                            Ended                       Ended
                                                                        September 30,               September 30,
                                                                             1999                        1998
                                                                             ----                        ----
Income:
<S>                                                                         <C>                         <C>
     Rental                                                                $ 1,355,456              $ 2,145,038
     Interest and other income                                                  95,929                  166,316
                                                                           -----------              -----------
     Total income                                                            1,451,385                2,311,354
                                                                           -----------              -----------

Expenses:

     Property operations                                                     1,095,975                1,761,063
     Interest:
          To affiliates                                                        365,014                  205,223
          Other                                                                601,131                  825,376
     Depreciation and amortization                                             219,044                  520,249
     Administrative:
          To affiliates                                                        249,363                  295,213
          Other                                                                216,551                  492,971
                                                                           -----------              -----------
     Total expenses                                                          2,747,078                4,100,095
                                                                           -----------              -----------

Loss before allocated loss from joint venture and
     gain on sale                                                           (1,295,693)              (1,788,741)

Loss allocated to minority interest                                               --                     60,797

Gain on sale                                                                 1,367,450                3,559,333
                                                                           -----------              -----------

Net income                                                                 $    71,757              $ 1,831,389
                                                                           ===========              ===========


Loss per limited partnership unit before gain on sale                      $    (53.79)             $    (71.73)

Gain on sale per limited partnership unit                                        56.77                   147.76
                                                                           -----------              -----------

Income per limited partnership unit                                        $      2.98              $     76.03
                                                                           ===========              ===========


Distributions per limited partnership unit                                 $      --                $      --
                                                                           ===========              ===========

Weighted average number of
     limited partnership units
     outstanding                                                                23,366                   23,366
                                                                           ===========              ===========

</TABLE>

                        See notes to financial statements

                                       -5-
<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------
                        STATEMENTS OF PARTNERS' (DEFICIT)
                        ---------------------------------
                  Nine Months Ended September 30, 1999 and 1998
                  ---------------------------------------------
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                General                        Limited Partners
                                                                Partners
                                                                 Amount                   Units               Amount
                                                                 ------                   -----               ------
<S>              <C>                                         <C>                            <C>             <C>
Balance, January 1, 1998                                     $  (710,608)                   23,366          $(3,877,035)

Net income                                                        54,942                      --              1,776,447
                                                             -----------               -----------          -----------

Balance, September 30, 1998                                  $  (655,666)                   23,366          $(2,100,588)
                                                             ===========               ===========          ===========




Balance, January 1, 1999                                     $  (528,652)                   23,366          $(2,125,154)

Net loss                                                           2,153                      --                 69,604
                                                             -----------               -----------          -----------

Balance, September 30, 1999                                  $  (526,499)                   23,366          $(2,055,550)
                                                             ===========               ===========          ===========

</TABLE>

                        See notes to financial statements

                                       -6-

<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------
                            STATEMENTS OF CASH FLOWS
                            ------------------------
                  Nine Months Ended September 30, 1999 and 1998
                  ---------------------------------------------
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                               Nine Months              Nine Months
                                                                                  Ended                    Ended
                                                                              September 30,            September 30,
                                                                                  1999                     1998
                                                                                  ----                     ----
<S>                                                                           <C>                       <C>
Cash flow from operating activities:
     Net income                                                               $    71,757               $ 1,831,389

Adjustments to reconcile net income to net
     cash used in operating activities:
     Depreciation and amortization                                                219,044                   520,249
     Loss allocated to minority interest                                             --                     (60,797)
     Gain on sale(s)                                                           (1,367,450)               (3,559,333)
Changes in operating assets and liabilities:
     Escrow deposits                                                              295,788                    18,862
     Interest and other receivables                                                  --                       5,829
     Prepaid expenses                                                              67,689                   232,506
     Other assets                                                                  (6,161)                     --
     Accounts payable and accrued expenses                                         64,413                    87,415
     Accrued interest                                                             (21,921)                  243,562
     Security deposits and prepaid rent                                           (79,634)                 (178,840)
                                                                              -----------               -----------
Net cash used in operating activities                                            (756,475)                 (859,158)
                                                                              -----------               -----------

Cash flow from investing activities:
     Capital dispositions                                                       6,265,495                 9,873,904
     Investment in mutual funds                                                (2,623,308)                     --
                                                                              -----------               -----------
Net cash provided by investing activities                                       3,642,187                 9,873,904
                                                                              -----------               -----------

Cash flows from financing activities:
     Mortgage costs                                                                  --                     282,970
     Cash overdraft                                                                  --                    (330,379)
     Accounts payable - affiliates                                                613,147                (1,975,933)
     Principal payments on mortgages and notes                                 (3,401,726)               (6,991,404)
                                                                              -----------               -----------
Net cash used in financing activities                                          (2,788,579)               (9,014,746)
                                                                              -----------               -----------

Increase in cash                                                                   97,133                      --

Cash - beginning of period                                                         29,981                      --
                                                                              -----------               -----------

Cash - end of period                                                          $   127,114               $      --
                                                                              ===========               ===========


Supplemental Disclosure of Cash Flow Information:
     Cash paid for interest                                                   $   623,052               $   581,814
                                                                              ===========               ===========

</TABLE>
                        See notes to financial statements

                                       -7-
<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------
                  Nine Months Ended September 30, 1998 and 1997
                  ---------------------------------------------
                                   (Unaudited)


1.       GENERAL PARTNERS' DISCLOSURE
         ----------------------------

     In the opinion of the General Partners of Realmark Property Investors
     Limited Partnership IV, all adjustments necessary for a fair presentation
     of the Partnership's financial position, results of operations and changes
     in cash flows for the nine month periods ended September 30, 1999 and 1998,
     have been made in the financial statements. Such financial statements are
     unaudited and subject to any year-end adjustments which may be necessary.

2.       FORMATION AND OPERATION OF PARTNERSHIP
         --------------------------------------

     Realmark Property Investors Limited Partnership IV (the "Partnership"), a
     Delaware Limited Partnership, was formed on February 12, 1985, to invest in
     a diversified portfolio of income-producing real estate investments.

     In April 1985, the Partnership commenced the public offering of units of
     limited partnership interest. Other than matters relating to organization,
     it had no business activities and, accordingly, had not incurred any
     expenses or earned any income until the first interim closing (minimum
     closing) of the offering, which occurred on September 20, 1985. On June 22,
     1986 the offering was concluded, at which time 23,362.9 units of limited
     partnership interest were outstanding, excluding 3 units held by an
     affiliate of the General Partners. The General Partners are Realmark
     Properties, Inc., a wholly-owned subsidiary of J.M. Jayson & Company, Inc.
     and Joseph M. Jayson, the Individual General Partner. Joseph M. Jayson is
     the sole shareholder of J.M. Jayson & Company, Inc.

     Under the partnership agreement, the general partners and their affiliates
     can receive compensation for services rendered and reimbursement for
     expenses incurred on behalf of the Partnership.

     Net income or loss and proceeds arising from a sale or refinancing shall be
     distributed first to the limited partners in amounts equivalent to a 7%
     return on the average of their adjusted capital contributions, then an
     amount equal to their capital contributions, then an amount equal to an
     additional 5% of the average of their adjusted capital contributions after
     the general partners receive a disposition fee, then to all partners in an
     amount equal to their respective positive capital balances and, finally, in
     the ratio of 87% to the limited partners and 13% to the general partners.

                                       -8-
<PAGE>

FORMATION AND OPERATION OF PARTNERSHIP (CONTINUED)
--------------------------------------------------

     The partnership agreement also provides that distribution of funds,
     revenues, costs and expenses arising from partnership activities, exclusive
     of any sale or refinancing activities, are to be allocated 97% to the
     limited partners and 3% to the general partners.

3.       SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
         ------------------------------------------

Use of estimates
----------------

     The preparation of financial statements in conformity with generally
     accepted accounting principles requires management to make estimates and
     assumptions that affect the reported amounts of assets and liabilities and
     disclosure of contingent assets and liabilities at the date of the
     financial statements and the reported amounts of revenues and expenses
     during the reporting period. Actual results could differ from those
     estimates.

Cash
----

     For purposes of reporting cash flows, cash includes the following items:
     cash on hand; cash in checking; and money market savings.

Property and Depreciation
-------------------------

     Depreciation is provided using the straight-line method over the estimated
     useful lives of the respective assets. Expenditures for maintenance and
     repairs are expensed as incurred, and major renewals and betterments are
     capitalized. The Accelerated Cost Recovery System and Modified Accelerated
     Cost Recovery System are used to determine depreciation expense for tax
     purposes.

Rental Income
-------------

     Leases for residential properties have terms of one year or less.
     Commercial leases have terms of from one to five years. Rental income is
     recognized on the straight line method over the term of the lease.

                                       -9-
<PAGE>

Minority Interest in Consolidated Joint Venture
-----------------------------------------------

     The minority interest in a consolidated joint venture is stated at the
     amount of capital contributed by the minority investors adjusted for their
     share of joint venture losses.

        Comprehensive Income
        --------------------

        The Partnership has adopted Statement of Financial Accounting Standards
        (SFAS) No. 130, Reporting Comprehensive Income. SFAS 130 establishes
        standards for reporting and display of comprehensive income and its
        components in a full set of general purpose financial statements.
        Comprehensive income is defined as "the change in equity of a business
        during a period from transactions and other events and circumstances
        from non-owner sources". Other than net income (loss), the Partnership
        has no other sources of comprehensive income.

        Segment Information
        -------------------

        SFAS No. 131, Disclosures about Segments of an Enterprise and Related
        Information establishes standards for the way public business
        enterprises report information about operating segments in annual
        financial statements. The Partnership's only operating segment is the
        ownership and operation of income- producing real property for the
        benefit of its limited partners.

4.       ACQUISITION AND DISPOSITION OF RENTAL PROPERTY
         ----------------------------------------------

     In November 1985, the Partnership acquired a 168 unit apartment complex
     (Lakeview Village) located in Milwaukee, Wisconsin, for a purchase price of
     $4,411,659, which included $320,779 in acquisition fees.

     In December 1985, the Partnership acquired a 288 unit apartment complex
     (Woodbridge Manor, formerly Sutton Park) located in Lansing, Michigan for a
     purchase price of $7,252,858, which included $588,716 in acquisition fees.

     In August 1986, the Partnership acquired two office/warehouse buildings
     consisting of 62,598 square feet (Airlane I) and 68,300 square feet
     (Airlane III), consisting of approximately 25% office space and 75%
     warehouse space located in Nashville, Tennessee, for a purchase price of
     $6,180,920, which included $383,169 in acquisition fees.

                                      -10-
<PAGE>

ACQUISITION AND DISPOSITION OF RENTAL PROPERTY (CONTINUED)
----------------------------------------------------------

     In October 1986, the Partnership acquired an 86 unit apartment complex
     (Gold Key Village II) located in Englewood, Ohio for a purchase price of
     $2,354,615, which included $152,744 in acquisition fees.

     In December 1986, the Partnership acquired two apartment complexes
     consisting of 96 and 144 units (Creekside Apartments, formerly Bretton Park
     I and II) located in Flat Rock, Michigan, for a purchase price of
     $5,462,176, which included $445,964 in acquisition fees.

     In December 1986, the Partnership acquired a 215 unit apartment complex
     (Andover Park, formerly Willow Creek) located in Greenville, South
     Carolina, for a purchase price of $5,040,560, which included $477,987 in
     acquisition fees.

     In December 1986, the Partnership acquired a 72 unit apartment complex
     (Evergreen Terrace) located in Lansing, Michigan for a purchase price of
     $1,1711,093, which included $314,379 in acquisition fees.

     In May 1987, the Partnership acquired a 56 unit apartment complex (Cedar
     Court) located in Monroeville, Pennsylvania, for a purchase price of
     $1,439,832, which included $370,728 in acquisition fees.

     In 1988, the Partnership acquired, upon its dissolution, the net assets and
     liabilities of the Willow Lake Joint Venture, which amounted to $1,635,474.
     Since the date of the acquisition, the Partnership had capitalized
     additional construction costs of $5,059,296 which included capitalized
     interest of $151,993. Construction on this project was substantially
     complete in early 1991. During September 1992, Willow Lake's lender
     foreclosed and took possession of the property because the Partnership had
     difficulty in obtaining tenant leases and financing to complete tenant
     build-out costs. The disposal generated a $1,328,352 loss for financial
     statement purposes.

     In October, 1989 the Partnership sold the Gold Key II apartment complex for
     $2,881,136 which generated a gain of $911,177 for financial statement
     purposes.

     In February 1998 Airlane Office Warehouse was sold for a sales price of
     $4,700,000. The sale resulted in a gain for financial statement purposes of
     $1,148,604.

In March 1998 Creekside Apartments was sold for a sales price of $5,075,000. The
sale generated a gain for financial statement purposes of $2,410,729.

                                      -11-
<PAGE>

ACQUISTION AND DISPOSITION OF RENTAL PROPERTY (CONTINUED)
---------------------------------------------------------

     In August 1999 Woodbridge Manor (formerly Sutton Park ) was sold for a
     sales price of $6,400,000. The sale generated a gain for financial
     statements purposes of $1,367,450.

     Financial Accounting Standards Statement No. 121, Accounting for the
     Impairment of Long-lived Assets and for Long-lived Assets to be Disposed Of
     (the "Statement") requires that assets to be disposed of be recorded at the
     lower of carrying value or fair value, less costs to sell. The Statement
     also requires that such assets not be depreciated during the disposal
     period, as the assets will be recovered through sale rather than through
     operations. In accordance with this Statement, the long-lived assets of the
     Partnership, classified as held for sale on the balance sheet, are recorded
     at the carrying amount which is the lower of carrying value or fair value
     less costs to sell, and have not been depreciated during the disposal
     period. Depreciation expense, not recorded during the disposal period, for
     the nine months ended September 30, 1997 totaled approximately $300,000.

                                      -12-

<PAGE>

5.       MORTGAGES AND NOTES PAYABLE
         ---------------------------

The Partnership has the following mortgages and notes payable:

Lakeview
--------

     In January 1996, the Partnership refinanced the mortgage. The refinanced
     mortgage, with a balance of $2,481,746 and $2,490,369 at September 30, 1998
     and 1997 respectively, provides for annual principal and interest payments
     at 8.25% payable in equal monthly installments of $232,924. The term of the
     mortgage is ten years with the remaining balance due and payable on
     February 1, 2006. As a result of the Partnership's failure to make regular
     principal and interest payments, the property was placed in receivership in
     early 1998.

Woodbridge Manor (formerly Sutton Park)
---------------------------------------

     The property was refinanced January 11, 1996 with an 8% mortgage for
     $3,400,000, and an unsecured $50,000 promissory note. The new mortgage
     provides for annual principal and interest payments of $306,168 in equal
     monthly installments. The balance outstanding at September 30, 1998 and
     1997 was $3,302,288 and $3,352,465 respectively. The term of the mortgage
     is 10 years with the remaining balance due and payable on February 1, 2006.
     The promissory note provides for monthly principal payments of $2,083 plus
     interest accruing at the lenders reference rate plus 2% (total of 10.50% at
     September 30, 1997). At September 30, 1998 and 1997, the outstanding
     balance was $0 and $10,423, respectively. This property was sold August
     1999 and the mortgage was paid in full.

Airlanes I & III
----------------

     A 7.625% mortgage with a balance of $3,448,282 at September 30, 1997, which
     provided for annual principal and interest payments of $369,783 payable in
     equal monthly installments, with the remaining balance due January 1, 1999.
     This property was sold in February 1998 and the mortgage was paid in full.

                                      -13-
<PAGE>

MORTGAGES AND NOTES PAYABLE (CONTINUED)
---------------------------------------

Creekside
---------

     An adjustable rate mortgage with an outstanding principal balance of
     $3,613,360 at September 30, 1997. The interest rate is adjustable quarterly
     to a maximum rate of 13.5% and a minimum rate of 7% (7.11% at September 30,
     1997). The mortgage was payable monthly in amounts which vary with the
     interest rate. Monthly payments at June 30, 1997 based on 7.01% interest
     rate were $27,671.90. The balance of the mortgage was due and payable March
     31, 1998. The Partnership sold this property in March 1998 and the mortgage
     was paid in full.

Andover Park (formerly Willow Creek)
------------------------------------

     A mortgage with a balance of $3,948,450 at September 30, 1998. The mortgage
     has a two-year term with a variable interest rate set at a rate equivalent
     to 300 basis points over the thirty-day LIBOR rate (8.6875% at September
     30, 1998). The loan may at any time during the two years be converted to a
     thirty year fixed mortgage.

     A 9.25% mortgage with an original balance of $4,080,000 which provides for
     annual principal and interest payments of $393,023 payable in equal monthly
     installments with the remaining balance of $3,929, 432 due on September 1,
     1996; the maturity was then extended to March 1, 1997. The balance as of
     September 30, 1997 was $3,895,895. This mortgage was refinanced in June
     1998 and paid off in full.

Evergreen Terrace
-----------------

     An adjustable rate mortgage with a balance at September 30, 1998 and 1997
     of $1,009,005 and $1,011,763, respectively. The interest rate is adjustable
     annually to a maximum rate of 15% during the first five years of the loan
     term and 17% for the remaining life of the loan with a minimum rate of 9%.
     The mortgage is payable monthly in amounts which vary with the interest
     rate. The balance of the mortgage was due and payable May 24, 1998. As a
     result of the Partnership's failure to make regular principal and interest
     payments, the property was placed in receivership in October 1997. There is
     a pending foreclosure action with respect to the property. Management was
     given until September 1998 to either pay off the mortgage or sell the
     property, or the mortgagor will foreclose on the property. Foreclosure
     proceedings have been initiated by the lender; at September 30, 1998, no
     gain or loss on foreclosure has been recorded and the property has not been
     written off.

                                      -14-
<PAGE>

MORTGAGES AND NOTES PAYABLE (CONTINUED)
---------------------------------------

Chapelwood Estates  (formerly Cedar Court)
------------------------------------------

     A 9.25% mortgage with a balance of $894,551 at September 30, 1997, which
     provided for annual principal and interest payments of $89,586 payable in
     equal monthly installments with remaining balance of $895,117 due September
     1, 1996. The property was foreclosed on during 1997 and is no longer owned
     by the Partnership. The foreclosure resulted in a gain for financial
     statement purposes of $150,771.

     The mortgages described above are secured by the Partnership properties to
     which they relate.

     The aggregate maturities of mortgages and notes payable for each of the
     next five years and thereafter are as follows:

                  Year                               Amount
                  ----                               ------

                  1997                           $         0
                  1998                             3,950,000
                  1999                                     0
                  2000                                     0
                  2001                                     0
                  Thereafter                               0
                                                 -----------
                  TOTAL                          $ 3,950,000
                                                 ===========


6.       INVESTMENT IN JOINT VENTURE
         ---------------------------

     On September 1, 1992, the Partnership entered into an agreement to form a
     joint venture with Realmark Property Investors Limited Partnership VI-B
     (RPILP VI-B). The joint venture was formed for the purpose of operating the
     Lakeview Apartment complex owned by the Partnership. Under the terms of the
     agreement, RPILP VI-B contributed $175,413, with the Partnership
     contributing the property net of the first mortgage.

                                      -15-
<PAGE>

INVESTMENT IN JOINT VENTURE (CONTINUED)
---------------------------------------

     The joint venture agreement provides that any income, loss, gain, cash
     flow, or sale proceeds be allocated 83.78% to the Partnership and 16.22% to
     RPILP VI-B. The net loss from the date of inception has been allocated to
     the minority interest in accordance with the agreement and has been
     recorded as a reduction of the capital contribution.

A reconciliation of the minority interest share in the Lakeview Joint Venture is
as follows:

                                                1999
                                                ----
     Balance, January 1                     $ ( 36,954)
     Allocated Loss                                  -
                                            -----------
     Balance, September 30                  $ ( 36,954)
                                            ===========

7.       RELATED PARTY TRANSACTIONS
         --------------------------

     Management fees for the management of certain of the Partnership's
     properties are paid to an affiliate of the General Partners. The management
     agreement provides for 5% of gross monthly receipts of the complexes to be
     paid as fees for administering the operations of the properties. These fees
     totaled $82,735 and $130,488 for the nine months ended September 30, 1999
     and 1998, respectively.

     The Partnership entered into a management agreement with an unrelated third
     party for the management of Airlane I and III on August 15, 1986. The
     agreement provided for the payment of a management fee equal to 4% of
     monthly gross rental income. An affiliate of the General Partners' also
     received a management fee of 2% of monthly gross rental income. This
     property was sold during the first quarter of 1998 and the management
     agreement was thereafter terminated.

     According to the terms of the Partnership Agreement, the Corporate General
     Partner is also entitled to receive a partnership management fee equal to
     7% of net cash flow (as defined in the Partnership Agreement), 2% of which
     is subordinated to the limited partners having received an annual cash
     return equal to 7% of their average adjusted capital contributions. No such
     fee was paid or accrued by the partnership for the nine months ended
     September 30, 1999 and 1998.

                                      -16-
<PAGE>

RELATED PARTY TRANSACTIONS (CONTINUED)
--------------------------------------

     Accounts payable to affiliates amounted to $3,393,832 and $1,691,016 at
     September 30, 1999 and 1998, respectively. The payable represents fees due
     and advances from the Corporate General Partner or an affiliate of the
     General Partners. Interest charged on accounts payable to affiliates
     totaled $365,014 and $205,223 for the nine months ended September 30, 1999
     and 1998.

     The General Partners are also allowed to collect a property disposition fee
     upon sale of acquired properties. This fee is not to exceed the lesser of
     50% of amounts customarily charged in arm's-length transactions by others
     rendering similar services for comparable properties, or 3% of the sales
     price. The property disposition fee is subordinate to payments to the
     limited partners of a cumulative annual return (not compounded) equal to 7%
     of their average adjusted capital balances and to repayment to the limited
     partners of an amount equal to their original capital contributions. Since
     these conditions have not been met, no fees have been recorded or paid on
     the sale of the Gold Key II apartment complex.

     Computer service charges for the partnerships are paid or accrued to an
     affiliate of the General Partner. The fee is based upon the number of
     apartment units and totaled $8,262 and $8,550 for the nine months ended
     September 30, 1999 and 1998, respectively.

     Pursuant to the terms of the Partnership Agreement, the Corporate General
     Partner charges the Partnership for reimbursement of certain costs and
     expenses incurred by the Corporate General Partner and its affiliates in
     connection with the administration of the Partnership. These charges were
     for the Partnership's allocated share of such costs and expenses which
     include payroll, legal, rent, depreciation, printing, mailing, travel and
     communication costs related to Partnership accounting, partner
     communication and relations and property marketing. Accounting,
     communication and marketing expenses are allocated based on total assets,
     number of partners, and the market value of properties respectively.

8.       INCOME TAXES
         ------------

     No provision has been made for income taxes since the income or loss of the
     partnership is to be included in the tax returns of the Individual
     Partners.

                                      -17-
<PAGE>

INCOME TAXES (CONTINUED)
------------------------

     The tax returns of the Partnership are subject to examination by the
     Federal and state taxing authorities. Under federal and state income tax
     laws, regulations and rulings, certain types of transactions may be
     accorded varying interpretations and, accordingly, reported partnership
     amounts could be changed as a result of any such examination.

     The reconciliation of net income (loss) for the nine months ended September
     30, 1999 and 1999 as reported in the statements of operations, and as would
     be reported for tax purposes, is as follows:

<TABLE>
<CAPTION>
                                                     September 30,       September 30,
                                                         1999                1998
                                                         ----                ----
<S>                                                  <C>                 <C>
Net income (loss) - statement of operations          $  71,757           $ 1,831,389

Add to (deduct from):
     Difference in depreciation                       (219,044)             (200,787)
     Gain on sale of property                          150,000
     Allowance for doubtful accounts                   217,400               230,000
                                                     ---------           -----------

Net income (loss) - tax return purposes              $ 220,113           $ 1,860,602
                                                     =========

</TABLE>

                                      -18-
<PAGE>

INCOME TAXES  (CONTINUED)
-------------------------

     The reconciliation of Partners' (Deficit) as of September 30, 1999 and
     December 31, 1998 as reported in the balance sheet, and as reported for tax
     purposes, is as follows:
<TABLE>
<CAPTION>
                                                  September 30,           December  31,
                                                      1999                    1998
                                                      ----                    ----
<S>                                               <C>                      <C>
Partners' (Deficit) - balance sheet               $(2,582,049)             $(2,653,806)

Add to (deduct from):
     Accumulated difference in
     depreciation                                  (6,500,562)              (6,281,518)
     Accumulated amortization                         382,695                  382,695
     Syndication fees                               2,734,297                2,734,297
     Difference in book and tax
     basis in partnership investments                (635,737)                (635,737)
     Gain on Sale                                   1,603,577                1,453,577
     Gain from fire loss                             (706,158)                (706,158)
     Gain on foreclosure                              693,879                 693,8793
     Other                                          1,068,471                1,285,871
                                                  -----------            -------------

Partners' (Deficit) - tax return purposes         $(3,941,587)             $  (3,726,900)
                                                  ===========              =============

</TABLE>

                                      -19-
<PAGE>

PART II: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         -----------------------------------------------------------------------
         OF OPERATIONS
         -------------

The General Partner continues to fund the Partnership's shortfalls in cash flow,
although under no obligation to do so. Such advances to the Partnership are
considered payable on demand to the General Partner, and at this point in time,
there is no assurance that these advances will continue. The Partnership did not
make any distributions during either of the first three quarters of 1999 or
1998, and is not likely to make any in the future until all Partnership
obligations are satisfied and the General Partner is reimbursed for the advances
it has made to the Partnership.

The General Partner continues its efforts to locate a buyer for the properties
in this Partnership as it is felt that the sale of the properties is in the best
interests of the Limited Partners. Until such time as the properties are sold,
it is highly unlikely that the Limited Partners will receive any return of their
investments. Management is also aggressively seeking refinancing for several of
the properties in an effort to decrease the interest rates currently being paid;
such a decrease will result in lower monthly payments, thus increasing cash
flow. The General Partner was successful in refinancing the Andover Park
Apartment Building (formerly Willow Creek) in Greenville, South Carolina at the
end of June 1998. This refinancing was deemed crucial as the lender was
threatening foreclosure if the mortgage was not paid in full by June 30, 1998.

Management successfully sold Woodbridge Manor (formerly Sutton Park Apartments)
near the end of August 1999. The sales price in the contract dated July 1, 1999
was $6.4 million. The sale resulted in a gain being recorded on the
Partnership's financial statements during the third quarter of 1999.

The Partnership has conducted a review of its computer systems to identify the
systems that could be affected by the "year 2000 issue" and has substantially
developed an implementation plan to resolve such issues. The year 2000 issue is
the result of computer programs being written using two digits rather than four
digits to define the applicable year. Computer programs that have time sensitive
software may recognize a date using "00" as the year 1900 rather than the year
2000. This could result in a system failure or miscalculations causing
disruptions of operations, including, among other things, a business activities.
Management has discussed with outside independent computer consultants its
readiness for the year 2000. The majority of the software in use is either "2000
compliant" or will be with little adaptation and at no significant cost per
information provided by their software providers. Management has also engaged a
computer firm to re-write it tax software making it Year 2000 compliant. This
work began May 1, 1999 and is almost completed.

                                      -20-
<PAGE>

LIQUIDITY AND CAPITAL RESOURCES (CONTINUED)
-------------------------------------------

Management has a complete inventory of its computers and feels that the cost of
replacing those which will not be "2000 compliant" will be relatively minor
(i.e., most likely under $20,000). Non - informational systems have also been
evaluated and management feels that there will be little , if any, cost to
preparing these for the Year 2000 (i.e., most likely under $20,000). Management
expects to be fully Year 2000 compliant with testing done by October 31, 1999.
The Partnership is working on a contingency plan in the unlikely event that its
informational systems do not operate as planned in the year 2000, all records
could be maintained until the problems with its systems are resolved. Management
feels its external vendors, suppliers and customers, for the most part, will be
unaffected by the Year 2000 as most do not rely on information systems in their
businesses.

Results of Operations:
----------------------

Net loss for the three month period ended September 30, 1999 amounted to
$735,661 or $31.48 per limited partnership unit versus a net loss for the three
month period ended September 30, 1998 of $314,794 or $12.33 per limited
partnership unit. For the nine month period ended September 30, 1998, the net
income amounted to $71,757 or $2.98 per limited partnership unit, versus income
of $1,831,389 or $76.03 per limited partnership unit for the nine month period
ended September 30, 1998. The net income generated during the nine month period
ended September 30, 1998 was due to the gain resulting from the sales of
Airlanes and Creekside which amounted to $3,559,333. Without such gain, the
Partnership incurred a net loss of $1,788,741 or $71.73 per limited partnership
unit for the nine months ended September 30, 1998.

On a tax basis, the Partnership generated income of $220,113 or $9.14 per
limited partnership unit for the nine month period ended September 30, 1998
versus income of $1,860,602 or $77.24 per limited partnership unit for the nine
month period ended September 30, 1998. Again, without considering the gain on
sale, the tax basis loss which would have been reported for the first nine
months of 1998 was approximately $1,698,731 or $70.52 per limited partnership
unit.

Partnership revenue for the quarter ended September 30, 1999 totaled $430,352, a
decrease of almost $357,820 from the same period in 1998. For the nine month
period ended September 30, 1999 total income decreased by $859,969 from the
corresponding period in 1998; total income for the nine months ended September
30, 1999 and 1998 was $1,451,385 and $2,311,354, respectively. Rental income for
the nine month period ended September 30, 1999, totaled $1,355,456, a decrease
of just over $2,145,038 over the same time period in 1998. All the above
decreases are primarily related to the sales

                                      -21-
<PAGE>

RESULTS OF OPERATIONS (CONTINUED)
---------------------------------

of Airlanes Office/Warehouse Building in February 1998 and Creekside Apartments
during March 1998 (i.e., there are two less complexes in the Partnership
generating revenue). Woodbridge Manor (formerly Sutton Park) was not sold until
August of 1999.

For the three month period ended September 30, 1999, the Partnership expenses
totaled $1,166,013, a increase of approximately $63,017 from the quarter ended
September 30, 1998. For the nine months ended September 30, 1999, the
Partnership expenses totaled $2,747,078, decreasing almost $1,353,017 from the
same nine month period in the previous year. This is mostly due to the sale of
two properties (Creekside and Airlanes) . Payroll and associated costs and
repairs and maintenance expenses saw large increases between the two nine month
periods, and it is management's expectation that such costs will continue to be
relatively high through the remaining months of 1999 due to necessary capital
improvement work at the properties. Several capital improvements projects are
continuing and exterior painting. As was noted in the previous quarter,
depreciation and amortization increased dramatically between the nine months
ended September 30, 1999 and 1998. The increase was due to two factors: 1)
accounting pronouncements resulted in the ceasing of depreciation on several
properties in 1997 due to existing sales contracts, which were either
subsequently canceled or acted upon; and 2) additional amortization taken on
fees paid to extend the Andover Park (formerly Willow Creek) mortgage and hold
off on a pending foreclosure; this mortgage was subsequently paid in full when a
new mortgage was negotiated. Administrative costs also remained relatively high
due to increased brokerage fees incurred and being accrued as a result of
management's increased efforts to sell the properties in this partnership.

Again, management continues to put forth great effort to control and manage the
Partnership's expenses while also focusing heavily on increasing occupancies..

                                      -22-
<PAGE>

               REALMARK PROPERTY INVESTORS LIMITED PARTNERSHIP IV
               --------------------------------------------------

                                     PART II
                                     -------

                                OTHER INFORMATION
                                -----------------

Item 1 - Legal Proceedings
--------------------------

The Partnership is not party to, nor is it the subject of, any material pending
legal proceedings other than ordinary routine litigation incidental to the
Partnership's business.

Item 2, 3, 4 and 5
------------------

Not applicable.

Item 6 - Exhibits and reports on Form 8-K
-----------------------------------------

None.

                                       -23
<PAGE>

                                   SIGNATURES
                                   ----------

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

REALMARK PROPERTY INVESTORS
LIMITED PARTNERSHIP IV

By:      /s/  Joseph M. Jayson                                September 30, 1999
         ---------------------                                ------------------
         Joseph M. Jayson,                                    Date
         Individual General Partner and
         Principal Financial Officer