Quote from @Sam Evrard: How do you go about finding areas to invest in with limited capital? 

Hey Anthony, our group is really for anyone whose #1 focus is raising more capital.

Focusing on building knowledge, credit, and some capital is key.

Possibly in capital hill area.  

I am focused on building capital at the moment since it wouldn't be a primary residence for me, so I want to stay under $300K.

Certainly from a capital raise perspective, $5 -10 million is a reasonable amount.That being said, raising capital for a blind pool fund is much more difficult than raising capital for a syndication where the property is already identified and the potential investors know exactly where there money is being invested.

If you sell for a net sales price of $1 mil and buy for a net purchase price of $700K you will owe tax on the difference of $300K.BP may have a capital gains calculator you can use.  

Additionally, your brother would inherit your cost basis in the property, which could result in significant capital gains tax if he sells the property later.

I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property).  

The capital gain may be eaten up by those with a 10% pref, and you get nothing else.