Install landscaping that requires less water.Gadgets that help prevent water damage if water goes where it shouldn't be going: water alarms (place under kitchen sink, next to hot water heater, next to washing machine) and a "dwip" pan for under the dishwasher (if the dishwasher starts to leak, it forces the water away from the back of the cabinet and out onto the kitchen floor where it can be seen.)This is how we do it:Utilities that are variable (cost tied to use) - electricity, natural gas, and water/sewer - tenant paysUtilities that are fixed (flat fee) - garbage/recycling, yard debris - landlord pays (but we factor the cost into the rent.)In our city, both water/sewer and garbage/recycling will become a lien on the property if it is not paid.  

"Natural" remedies (borax, salt, D. earth) aren't going to help in the short term & in my experience, those buggers can breed faster than any of those things can kill them. 

Risk/Reward analysis are far more helpful and if you apply a sensitivity analysis to your IRR projections, you might find out what is more important to your investors, cashflow vs appreciation and the risk of each, which should help you determine a target for raising capital. 

I am pursing this path because I enjoy working with people/teams, the nature of the work (risk/return), and results (project/$/ A to Z).

Properties are located in a beautiful region of the Catskill Mountains, several within one mile of the Delaware River.Properties are located in three townships: Callicoon, Delaware and Fremont.Properties are concentrated in the southern tier of New York State in and around the Marcellus Shale, the largest shale plate in the US, often called the “Saudi Arabia of natural gas."

The natural fear is fine, I can get through that and have before. 

It all sounds very risky to me but IF I were to do anything of this nature I would:1.

Lots can happen to sis' share due to 'pig in a poke' nature of heir's equity in an estate (unknown  creditor claims, etc.).Q: if this were not your Brother's property, would you consider buying it?

You also didn't indicate whether you were targeting properties that needed work or they will be rather turn-key in nature. 

I have been reading everything I can get my hands on.I run a small  HVAC / home repair business and that is why I am thinking about getting into real estate investing, it seems like such a natural  transition fo for me.