With new regulations in Canada like the flipping tax and property gains tax, I want to be mindful of the risks involved. 

Instead of spending years learning by trial and error, working with a coach or mentor can allow you to accelerate your learning curve, gain confidence, and achieve your goals faster.

Stay consistent and take calculated steps to gain momentum!

Did the proceeds from the sale count as short term or long term capital gains?

if you have lived in the property for 2 out of the least 5 years you will not pay taxes on the gain, so if you want to sell make sure you do it soon enough to take advantage of that tax advantage.  

Build equity while gaining experience as landlords.

You said you can't sell now, but want to wait for the equity gain.

No but keep track of those repairs as it will add to your cost basis when you go to sell it and have to pay capital gains.

The client will be solely responsible for capital gains taxes, including depreciation recapture, regardless of the agreement to share proceeds.

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.