Cash-flow is for "keeping the lights on" as in covering operational expenses to defend against any need for additional capital investment. 

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.

However, they can sometimes be higher due to the additional risk taken on by the lender.With a hard money loan, you typically make interest-only payments during the loan term.No, you wouldn't owe any more interest beyond what has already accrued if you finish the project in 3 months and pay off the hard money loan earlyIt's great that you're exploring different strategies for your real estate investments!

They forget time is money and the PMC shouldn't be expected to do this without additional compensation.Also, many owners are too focused on the cheapest price without understanding all the potential pitfalls. 

Additionally, Building a trustworthy local team will make the process much smoother.

Yes, I still did my own due diligence but PPR saved me hours of additional research.Perhaps the biggest reason I ended up working with PPR is because of the BiggerPockets community validation.

Additionally, for the AR llc, do I need to register the LLC in California as a foreign company?

Even if you primarily rely on finding your own deals off market, it never hurts to have a reliable agent on your team as an additional lead source.

These are professionals with additional training and a stricter code of ethics.

If you are looking to refinance the rate and aren't concerned with taking additional equity out on your property, then you should use a rate/term refinance.