Has anyone had experience using this financing, or can recommend a similar financing alternative without the overhead of joining an inner circle?

If you are new to the business the most common issue is you're either locking up deals too high or you aren't finding attractive deals.

Was the 'average' alternative investment in 2021 with 200k unoquivocally better than holding the asset (and by 50-100k)? 

I would just be cautious, as there are some rough neighborhoods in both Akron and Cleveland that seem attractive due to the cash flow but will be money pits after the vandalism and vacancy. 

Unfortunately, some renters will say anything—even things that make no sense in an alternate universe—to avoid responsibility or financial consequences.

That said, tenants sometimes push for alternative solutions, as in your case.Here’s what I’d suggest:Broaden Your Marketing ApproachFebruary and March can be slow months for leasing in family-oriented communities, but it’s not impossible.

In addition, what if I attract unwanted attention to the other parts of the property that I strongly suspect aren’t permitted?  

Alternatively, your brother could buy your share, which would result in capital gains tax for you on the difference between your share's original cost and its current value.

If let it get outdated and go into disrepair, well, that will dictate the clientele we can attract right. 

Class A properties are going to cost you more, have lower cash flow, yet be more attractive to a higher quality tenant base.