That said I am also looking to invest in MIL, but only in mid size 5-12 unit MFRs where I can afford them

Are you sitting on the couch watching Netflix and can afford a pm?

Dividing it up that way maps it closer to max of 1-2 week stay per year per owner (for average typical timeshare convention) and makes the ownership cost more affordable than it is now at 1/8 share, especially the more pricier listings for the multimillion dollar homes.

And I doubt they could afford to buy. 

If you can afford to put money in a retirement vehicle, just look at this in that manner.

We were able to "Afford" to make a decision like this since we only had about $10,000 in the 21 acres. 

with a very short lock and cheap points, I'm guessing it could have been affordable to get a 2.125% loan on a primary....

But my brother and I can't afford to invest in rennovations, plus it would be risky since we don't know enough about it, plus I live on the other side of the country.

What would you do if the 88 year old tenant who has occupied the unit for 20 years can't afford a 200 dollar rent increase? 

These areas seem to offer affordable prices for me as an amateur investor but I just want to make sure I'm not wasting valuable time analyzing an area that's largely stagnant.