If your brother is looking to invest in real estate largely from a tax reduction standpoint they should pay a qualified real estate tax strategist to review their specific situation and what may or may not work for them. 

Your tenants can only continue paying similar rents if they remain employed at similar wages.

If you want good contractors out there quickly , pay their price and pay it quickly . 12 months is too long , we can build a 3000 sq ft house ground up in 3 months . 

We're trying to decide whether or not to pay it off or save to buy another property. 

In reality, you are going to be the one to pay for that.  

I was really hoping to get in on the ground level and grow with them. 

Thanks again for the reality check—it’s grounding and motivating at the same time!

The ground floor was redesigned for retail units, while the upper floors were converted into modern, open-concept office spaces.Modern Amenities: Introduced features like energy-efficient lighting, upgraded HVAC systems, and high-speed internet infrastructure.Aesthetic Upgrade: Refreshed the façade with contemporary materials while preserving historical elements to maintain its character.OutcomesIncreased Occupancy: The property went from 40% to 95% occupancy within six months of renovation.Higher Rental Rates: Upgraded spaces commanded rental rates 30% higher than before.Enhanced Property Value: The property's appraised value increased by 50% post-renovation.Investor's ROIBy investing in smart architectural design, the investor not only revitalized a neglected property but also significantly boosted their ROI through higher rental income and property appreciation.

I have a large network plus in depth knowledge of the process to get a project like this off the ground. 

Essentially, your new replacement property will consist of (1) a thirty plus year ground lease on the real property you already own; and (2) new capital improvements made on the real property you already own pursuant to the new thirty plus year ground lease.