They are very likely based overseas.

So ya-see Jimmy, that's how we have a FACT-BASED conversation on "I can land 1%+ deals no problem"........

Though it may cash flow well based on their current debt service, when you compare the income it produces to the equity they have is it actually even a good investment for them from an ROI perspective or would they be better off liquidating and redeploying?

This in turn will kill your exit strategy if you are not doing your due diligence and playing conservative.

If it's a long-term play, the potential savings on PMI with a conventional loan could be significant.Have you compared rates for both options?

Yes, there are times they do win and make money, but not on a frequent bases in my experience.  

I've had instances where a voucher went to literally zero, and the tenant was no longer on the program.

while i do think it's valuable to analyze properties, it's really difficult to underwrite based on photos. 

Pick a lane based on your strengths and long-term goals.

If your brother is an E5 or higher he can live off base.