We do not anticipate any major capital expenditures for this property right off the bat. 

Landlord insurance in each properties as well as an umbrella insurance can take care of majority of the issues. if it arises. 

A 4plex won’t be 50% expenses in KC if all the major systems have been replaced recently even with saving for capex.

This could be a major deal considering the city's project.

I was an ME major in college as well.

Majority of the foreclosed homes were due to baby boomer passing away and their kids won't pay for the mortgage.

We have had 3 parcels of land (small country town) plus the mobile home rental and had to sell all of it do to personal reasons and major home repairs on our own home.

I work as a sales manager for a major telecommunication company which supplies me with a steady income. 

Once you determine the current condition and life expectancy of all major components and appliances you can adjust the CapEx reserves requirement.What are you including in the $200 Misc?  

Well typically you'd want to get a lawyer involved to draw up a contract, since he's your brother I'm not sure if that's what you want to do but regardless you need to agree on the terms of the business relationship beforehand to prevent any disagreements and disputes:1) Who makes major decisions (ie renovations, evictions, selecting tenants, etc.).