While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

You can break it out by general RE activities and material participation.

However, when I am unable to run screening reports due to this, we can push them to our "alternate screening".

However, he asked me to sign a one-year Exclusive Right to Represent agreement, as presented to him by his brokerage.His interpretation is that it applies only when he materially assists me, but I think the boilerplate brokerage language he was given reads much more broadly:"If during the term of this Agreement Buyer enters into a contract for the purchase of Property through the services or efforts of the Broker or Buyer’s Brokerage Firm, or by or through any other persons during the term of this Agreement" (emphasis mine).My concern is that, under my interpretation, if a fellow real estate investor wants to unload a property or if I get pointed to an opportunity by a former agent, colleague, or friend, this agreement could create an obstacle to moving forward with the deal.In the end, I didn’t sign.

Rehab costs and ARV (After Repair Value) are key parts of evaluating deals, so it’s great that you’re diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor. 

Alternatively, your brother could buy your share, which would result in capital gains tax for you on the difference between your share's original cost and its current value.

Quote from @Chris Seveney: @Ryan KohenIt’s gotten some pretty bad reviews here on BPDo you like it or have an alternative ? 

Alternatively, once you have a full time job (or an employment contract), you should be able to qualify for a loan and utilize a Down Payment Assistance program.

Like you said, probably not so easy here in MA but you did give me an idea about alternative uses...I typically focus on properties that I can make buildable by solving zoning issues, access issues or minor wetland issues.  

If I have the time after dinner to run to Lowe’s , and deliver material at 10pm, I didn’t have to ask if that’s ok.