Well typically you'd want to get a lawyer involved to draw up a contract, since he's your brother I'm not sure if that's what you want to do but regardless you need to agree on the terms of the business relationship beforehand to prevent any disagreements and disputes:1) Who makes major decisions (ie renovations, evictions, selecting tenants, etc.).

The self dealing seems to be out of play because there really isnt a rule that says a close relationship cant buy something from you. 

Starting out you're going to take a beating on the terms because you don't have a relationship yet but if the numbers work then them making an extra couple grand doesn't matter 

*This post does not create an attorney-client nor a CPA-client relationship. 

If you were to build contractor relationships, and have the work done yourself, the value you could add to the property on your own, vs. the cost, is a no-brainer.

And they don't want to take the time and effort to learn the basics of a market and build the proper relationships it takes to invest from afar.I fell into the trap a couple years ago...went the turnkey route...was tempted by the "amazing" and quick returns on a $37,000 property....got burned.But, I'm trying to grow, improve, learn more.

I already have a relationship and can discuss where your offer came from and provide them alternatives.

Since then, there have been many other factors contributing to a deteriorating relationship between myself and my landlords.

You are doing business with family and if your brother has no money and high credit card bills along with getting married ( assuming his bridge to be's family is taking care of the wedding cost ), this sounds like a relationship killer waiting to happen.

I have previously worked directly with local bank in my last deal, but I'm not against the idea of using brokers. there's a lot of discussion already about pros and cons of brokers vs direct bank relationship, but I wonder what's your take on it considering you worked with brokers (I have not yet on the commercial side)?