Seeking advice on brother living in our multi-family property

[Alex Martens]

Hi BP community,

I hope this post finds everyone well. I'm looking for some opinions on me and my brother's situation. I am looking to buy my second property (ideally a multifamily), and coincidentally my brother is looking to move out of his current apartment that he is renting. He made a proposal to me that we go in on a deal together, which I think would be great so I don't have to wait as long to get another property. 

He is proposing that he lives in one of the units and of course we rent out the others. The way I see it working, is that it would kind of be house hacking for him, but in return giving less cash flow for me because of him occupying that one unit. Or could we play it as maybe he still pays rent, but just less? The downside for me is less cashflow, but since I will be out of state, it will be nice to have him there and save us management fee's as well as lawn and plow services. 

What do you guys think? I'm sure its going to depend on the number and how much we can rent and all that...but just as a principle, should this be avoided, or is it still a good opportunity make money? Thanks everyone!

Alex