How do single-property LLCs typically allocate investor losses?

[Cooper Marcus]

How do single-property LLCs (I'm most interested in multi-family, but I'm guessing this answer could apply to any property type) typically allocate tax losses to their partners/investors?

For example, if a given property generates $100k in losses (typically due to depreciation), would those losses typically appear on the partner's K1 forms in proportion to their equity percentage? Thus, an investor that had put up 10% of the equity would see a -$10k loss on their K1?

Or, are other allocations, that aren't strictly related to investor equity, typical?

Where could I read more on this topic? 

[Greg Dickerson]

@Cooper Marcus it all depends on what is stated in the operating agreement and or the PPM regarding members shares.  It can be allocated any way the sponsor, partners and the investors agree.