I think this is a good idea, but don't let it be a substitute for a good insurance policy.

Construction roofing is no substitute for the education and savvy business acumen you lack.

There are still ways to get you separated from them and retain  your tax deferral but it does become a little more complicated.If the bank is willing to release the lien in favor of a pay down and/or substitution of capital that too is fine.  

Talk to your lender ahead of time to look at a simple substitution of borrower  and then work with your accountant to close the LLC, distribute the asset and then contribute into a new entity.It is also possible that your LLC, if it is a single member that is not taxed as a partnership, is a disregarded entity and as such you yourself (or you and your spouse) are the tax payer.  

My brother agrees that I assume his loan (without substituting my entitlement), with an agreement to refinance in about a year.

I am thinking of cancelling cable with Cox, and substituting with Netflix.What do you think about this move will I have any negative effects?

You are substituting this number in place of all the normal expense items (Vacancy, CapEx, PM, Maintenance, Tax, Insurance, Utilities, etc).Example:  Monthly income = $1,200Expenses (50%) = $1,200 * .50 = $600NOI = $1,200 - $600 = $600This method provides a conservative number to use when you are screening multiple properties.  

With a holding agreement you are able to simply refund the deposit and walk away whereas if you had a lease, you would then need to provide housing (basically a hotel) to the tenant until the property became habitable, etc. or find them substitute housing.Our execution deposits are larger than $300 so we get the best of both worlds.If you opt to skip the holding agreement and go straight to the lease it can delay the process and result in the resident backing out due to change of heart or they may have challenges coming up with the deposit money (this should be rare as your ad should state the deposit terms). 

CoCR is the easiest, simplest, REI analysis there is.Cash, only cash, no cash substitutes, for the first year only.               

We had the prior judgment vacated, substituted ourselves as Plaintiff, I hired a separate lawyer to open the estate, be the PR, etc.