find a house close by with the same lay out ,then deduct for work needing to be done.If no luck keep going out tell you have a comp that works .

Hi Michael, one idea that I have not done, but tried before is that you can lease the property for X amount, then you can negotiate taxes and insurance with your brother for him to deduct them as a rental then you can sub lease the property.

@Ben Gabin maybe the 20% business tax deduction.

If not that unit will be considered used for personal use and vacation house(limitation on expense deduction ) rule will kick in once you rent it out. 

Yes, all ox business   are deductible but some capital expenses are depreciated over several years. 

Use the cost of the repairs to deduct the price negotiated.

Code §92.0561(b).Repair & Deduct RemedyA tenant also has a procedure to repair and deduct if certain requirements are met.

Add in the real gain to you of a few hundred $ per month from principal paydown, and add in a hundred or two $ per month in tax deductions and suddenly holding the property can look quite good. 

If he does leave in a few days  he pays rent everyday he is there and make any other deductions.

That is what gets deducted of the rent monthly.