Find and adopt a system you follow consistently (networking, generating leads organically, managing your database, managing your time, managing your marketing effectively and cost efficient) 2.

You need to have a lawyer working with you.

Set Your Investing Criteria - and once you know your Goals, you can set your investing criteria to efficiently and effectively analyze deals and serve as bumpers on acquisitions. 

This is a question for a lawyer not an internet forum, also you might want to make sure that the buyer is actually interested in the specific property you have before you sign the contract because if they aren't you could be stuck holding the bag.

No, just like we can't capitalize and depreciate increases in value in a rehab beyond what was actually incurred.Both are unrealized gains on the underlying asset which have no current tax effect. 

@Thomas N.I've used a clause in my lease to the effect that "tenant understands and acknowledges that the fireplace is for decorative purposes and is not functional."  

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.).

You will need to find a lawyer that does that, who can put together seller finance contract.

As far as legalities, I’m not a lawyer but I think you would be in very hot water.  

Do the usual stuff; inspection, financials, leases, rent roll, and  any agreement with the seller have your RE savvy lawyer read every word with you and explain every intent.