But I don't know what these late payments/fees, etc are.

Alternatively, he could hire a handyman, etc. to finish up what he was responsible for and he can pay them directly.Alternatively, since you both own it, you could take on 100% of the management and your brother pays you X% of the rent like a property manager.

You're 3-5 years too late:(As you've calculated, you won't cashflow anytime soon - without changing your priorities.Example: you have roommates now, but don't want them if you buy.- While this is your perogative, how much monthly are you giving up?

I have hired a GC in the past and that particular GC took a very long time to finish the project.

I have a house that was built with local lumber flooring white oak in the late 50s, and my HVAC contractor went through a dozen blades making the cutouts when we added central air. 

Ive been seeing it a lot lately.

Yes, my wife works the summers up there and we are in Wolfeboro from late June-Early August.

Raleigh or Charlotte, NC, may be great nearby options to check out while you’re finishing school.

One of my best deals came from a seller who initially wasn’t ready to let go due to sentimental attachment (it was a 12 unit apartment deal that was purchased by her late husband).

Meaning, even if the property will be worth $1.5mm when done (80% of that being $1.2mm), if the actual cost to build is $1mm, you will still need $200k equity to to put into the construction.From there, Robert's construction quotes align with what I have seen, and this is heavily dependent on finishes.