You would want to have some sort of legal contract drawn up defining the partnership, and that contract would details what happens after.

A perfectly defined slumlord.

Better define standards for crime rating.

Multi-family is defined as 5 family or more housing and cannot be purchased via VA loan.

I think you make your goal a little more defined like buy 1 or 2 properties per year, 3, 4 bed 1, 2 bath that why one you know exactly what you are looking for and that makes it easier to find and to you have a tangible goal to work towards instead of saying we want to invest this money.

Specifically, the legislature amended Section 1-10, which defines a "broker" under the law to include the practice of wholesaling real estate as practices covered by the license.

But as @Bill F. mentioned, you need to define your goals before you jump into that.

We did not receive a definable reason from the merchant. 

If you are partnering with your brother, why aren't you buying through something like an LLC where each of you have a defined percentage of equity and defined roles in the business?

Like @Ed Emmons Im also in Maine and there are definately pros and cons to all seasons.