Erdi said:
Im sorry, I am lost. I really don't have a clue.
Just imagine that you are removing M and that you are grabing the rope while standing on the ground.
You keep a solid grip on that rope and m2, which is four times heavier that m1, starts moving down until m1 hits the top fixed pulley.
After that moment, your hand feels a force of m2g value pulling up.
If you slowly release your grip, the rope starts sliding up and m2 falls even lower.
Your hand starts feeling less force simultaneously as m2 is loosing weight.
If you fully release the rope, m2 becomes completely weightless and unable to exert any force on the movable pulley.
As a result, m1 is free to fall down, loosing weight at the same time.
There must be a balance point for which you keep some gripping force on the sliding rope in such a way that m2 continues falling, but m1 remains static.
At that point, your hand should feel a pulling upwards force, which value is the key to the solution of this problem.