Thanks for the advice. It seems everyone wants details!
The townhouses are worth about 300 each, and they are in good areas.
Option A:
Cashing out would bring in about 190k each after selling expenses. If we cashed out, we would have enough money to buy another rental outright by ourselves, with money left over for emergencies. It would also be enough to flip properties one at a time in cash (i.e. conservatively) if we decided to go that route.
Option B:
Part of the family dynamic is the second brother, who would like to keep, has mentioned that he can't afford to buy another rental if we all decide to cash out. (Even though he should be able to)
Keeping one house would entail selling the other. Of the 300k proceeds from the sale of the first house, 200k would go to the first brother to cash him out of both houses. The remaining 100k in cash would be split evenly between my second brother and I, and we would split the second house 50/50. In addition to the proceeds from the sale there is already a "contingency fund" set aside for repairs and emergencies.
I estimate the second house would net us 700/mo after taxes, repair savings, and the 50/50 split.
As Ryan D alluded to it's probably not the best cash on cash return available, but there is a strong allure to the low stress nature of a property with no mortgage. My husband is on board with having a rental and managing it. His point is why partner up when we can do it on our own.
I guess I was just looking for some outside perspectives.
