I know he is your brother, but that's a quick way for a bad Thanksgiving dinner when you disagree about something and don't have an operating agreement to help you resolve the issue.

Find a good property being totally mismanaged - offer to purchase 60% and take operational control selling your property management expertise and future profitability, providing property owner/seller with enough cash to pay off his pressing debts keeping current loan in place. 

The feedback I have seen and gotten more often than not is to form an entity in the state where you are operating.  

I'm based in the Tampa area, and my business operates in South Florida.

For a business plan, you'll want to include sections like your business model, market analysis, financial projections, and operational plans.

He's a guy looking for help from experienced MTR operators, and a few of us responded.

The Flock only operates portfolio of SFR.

You might not be aware of the amount of money invested in marketing for a wholesaling operation.

The level of fixed costs to operate has gotten so strong, while demand has diminished and is a fraction(depending upon what business) compared to 21-22.

I don't use Padsplit, but have done research into them because they operate here in the Phoenix market.