At a high LTV your leverage will be magnified.If your cash flow really is break even (I have my doubts) then with the magnification resulting from leverage, you could produce a fairly good return (ROI from leveraged appreciation, equity pay down, tax benefits).Good luck

Now, you need to figure out how to find deals and pay for them.

In my firm, you would probably pay around $3,500 for this tax preparation, including Form 3115.

We had success in summerlin with insurance company paying .. over a 24 month period we had 3 tenants   fair market rent at the time was about 2200 or so non furnished.. we got 4100.00I did not like the turnover so I put it up as furnished rental and got 3500 and its going into its second year with a superb tenant. so seems like a happy medium for us.. 

Roofstock will pay to have an inspection done by a third party that we have vetted or the buyer can hire their own inspector and pay for the inspection themselves.

Now, you need to figure out how to find deals and pay for them.

If your brother is looking to invest in real estate largely from a tax reduction standpoint they should pay a qualified real estate tax strategist to review their specific situation and what may or may not work for them. 

More than happy to partner up or pay for the deal itself.

The garage and the fact that a long term tenant was in place paying market rent.

Also, if you are a minority, WRA has the Partnership for Success program, which helps pay for your start up costs.