Typically these people are really forthcoming with info and can tell you.

Additionally, your brother would inherit your cost basis in the property, which could result in significant capital gains tax if he sells the property later.

If you lived there 3 of last 5 years consider the value of exemption on capital gains tax.

There are also 'mezz' lenders (typically for larger transactions) who will cover up to 90% CLTV and require you to bring the remaining equity to the deal, and additionally there is Gap Funding in the form of unsecured personal debt.The latter can potentially be the most expensive option, but allows for true 100% financing as there are no restrictions for how to use these funds, as they are unsecured, and generally obtained through personal credit, income etc (since there is no collateral for obtaining these funds).

Yes it needs a closet and a point of egress to be considered a bedroom, and more bedrooms typically equal higher appraised value.  

The more experience earned, you gain insight into comparables, learn neighborhoods, get better and better in determining a real deal from a stinker.Sounds like you earned a little break now!

He doesn't cut a big portion of capital gain taxes all at once to the IRS, 3.

Regardless, you might find the copy & paste info below helpful:)--------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

There are still a lot of deals that are anywhere from 120-180k and multifamily typically starts around 200-250k.

You'll typically need to set up your account and get familiar with the process of working with the local housing authority.