I don't think a folding prop would help much, as folding props generally aren't much better than fixed props in reverse, and many are worse.
What you probably want is a feathering prop, which usually increases efficiency of the boat in reverse, as the blades feather to re-orient themselves in reverse. A good one that is fairly reasonably priced is the Kiwi Prop.
Also, please do remember that until the boat is actually making way in reverse, you're not going to have any steering.
The facts (let's keep SD happy)
Early 70's Tartan 30 with 3 cyl 18 hp diesel. Fin keel, skeg hung rudder, properly sized and pitched 2 blade prop in place. The engine on this boat sits on the keel, the shaft exits aft the keel and the prop is RIGHT there. No strut, no exposed shaft, just prop with the zinc aft of the prop. Forward is fine, sailing is good as the shaft is marked in the bilge and the prop can therefore be aligned with the keel verticaly.
The problem. Reverse is a mess. The boat will go where it wants, period. In an adverse wind or current the boat is almost uncontrollable. You can push the tiller any way you want, until you get a good speed up it does not matter.
The question. Would a good folding 3 blade prop help. The issue is NOT speed or efficeincy, it is control in reverse at low speed.
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You know what the first rule of sailing is? ...Love. You can learn all the math in the 'verse, but you take
a boat to the sea you don't love, she'll shake you off just as sure as the turning of the worlds. Love keeps
her going when she oughta fall down, tells you she's hurting 'fore she keens. Makes her a home.
—Cpt. Mal Reynolds, Serenity (edited)
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