In a 10 year, 15 year timeframe he's absolutely better off. 

Houfy is very inexpensive to list on, and syncs with the other platforms, making it a very quick and cheap way to do direct bookings.

Market might be competitive but there is angles to stand out depending on what you are comfortable and able to handle, such as waiving an appraisal contingency, limitng inspection rights and time frames, closing time frames, allowing seller to stay-post closing, taking on difficult tenants, buying properties that might need repairs, etc.

It was rather inexpensive, and we never had any issues with the tenants.

Not sure how long you have worked at your brothers business but the general timeframe is 2 years 

There is an issue for the investor of being unsecured for that time frame or longer.  

By tackling them early on, you minimize the risk of missing critical dates.In my experience, closing a deal within a specific timeframe requires meticulous planning.

The important factors of a consolidation exchange are the reinvestment requirements and the time frame requirements.

Send a written notice (yes, paper) to the tenants with proof of delivery required (the postal carriers have this time to an art form; it's inexpensive and you get confirmation via email or receipt very quickly; it does not require the tenant to sign - it just confirms that the notice was delivered.A paying, respectful tenant is golden.

For $10K and a lower rate I'd be willing to consider delaying...but only if I knew that lender two was solid on closing in a relatively short timeframe.