The primary risks at this point would be       1) to your lender, the risk of a margin call.       2) To you; underestimating the true cost of a project and cost overruns      3) To you; legal risk of securities regulations if you partner looses money. 

I've added a few things for very minimal cost that guests really love and increased revenue ~34% year over year.

I did not want to spend 50K on doing separate meters for where I have my rentals it would cost me this much.

There will be a huge gap between coverages and replacement costs. - Renters are majority uninsured. - In September 2024 the FAIR Plan had $6B in exposure to the Palisades alone.

A typical PPM will cost about $10K. 

Additionally, your brother would inherit your cost basis in the property, which could result in significant capital gains tax if he sells the property later.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Those costs are a lot higher than you might expect.

@Martti Eckert in our opinion, you'll need to be really familiar with construction, including costs, or be able to find somoen on the ground you can REALLY trust (but still verify).

One issue that I'm noticing is the range of reported insurance costs.