Pretty new to reddit, so pardon if I'm not sure how to appropriately set this up.
I have a property I picked up about 5 years ago in Marrero, Louisiana. I've paid it down to $165k with renters, and it's worth about $230k now. It's a rental property, and my tenant is moving out. My brother wants to move in, lease it for a year or so, and then start making payments to buy it off of me. I have no idea how to set this up. Do I just have him set up a new loan and buy it, is there some kind of rent-to-own option, or is there another, better option for this? My ideal scenario would be to be able to take the profit on the property, pay taxes on the gains, and take the remaining money and put it into a brokerage account and/or my Roth IRA for some low and slow ETF gains(real estate is just too much pressure for me).
Any suggestions would be greatly appreciated! I don't even know where to begin with this.
Edit:
Just wanted to thank you all for your attention and suggestions. Looks like sell outright it is, then. I figured as much, but figured I'd check because I have no real experience in this kind of thing. I'll start looking into the paperwork with the family friend realtor. Here's hoping it all goes smoothly!