Most investors I work with like to stretch out the loan term to maximize cash flow, but if youre concerned with paying more in interest (even though your tenants will essentially be paying the interest) you could certainly look at a shorter loan term, as long as it doesnt cause the property not to cash flow.

Essentially once you qualify for the first refi you qualify indefinitely.

Your brother is essentially paying $300 to cover the mortgage. 

Property management is an essential piece of the business.

With just essential fixes in place?

I was at times doubting if I really need to spend $2000 on external measures but your post as well as several others has led me to believe the external stuff is essential.

If you go by financial metrics you're essentially filtering what you see by someone elses underwriting while disregarding the property itself. 

So having a diverse retirement plan is essential.

However, there have been times that (note that this is always novice investors) will send me endless listings and property addresses and ask me to call agents, drive by for them, do video walk throughs, etc; essentially invest many, many hours on their behalf, only to find out that they've bought a property either with another agent or off market in order to save money (ie; not pay me for my time and expertise after I've educated them on our market).

Maybe I would have had the wit to do what it said, maybe I wouldn't, but at least I would have had a shot.I would say the very largest challenge for someone starting out is fully understanding that the first 13 years of school, K-12, are essentially glorified babysitting in an enforced propaganda daycamp.