Financing and forming an LLC

[Michael Dombrowski]

Hello,

My mother, sister and I plan on starting a real estate investment property. However, we are clueless as how to separate out ownership.

Does anyone have tips and specific guidelines on how to separate out ownership?

Of course % of ownership is determined by capital infused into the LLC.
What about intangible properties. I.E. my willingness to handle all financial decisions, coordinate rental unit fixes, leases, etc.... What is that typically worth to people who have no interest handling the financial aspect of ownership?

Does anyone have a general guideline that they follow when forming an LLC? Does each individual property we pick up change on ownership based on who put in what? How does that work?

What is the general rule of thumb when it comes to releasing money to LLC owners based on ownership? Monthly, yearly?

Typical rule of thumb to build up a cash reserve? Again, is this based on an agreed checking account limit of 10K? If I own 30%, my sister owns 30 % and my mother owns 40%

I would be responsible for adding in 3K
Sister would be responsible for 3K
Mom would be responsible for 4K?

Is their a link to a more specific guideline to follow for LLC rental properties?

Also, can someone explain the investment properties that can be purchased as an owner vs commercial property owner? This affects mortgage interest rates. Can someone explain that? We currently own one rental property that is paid in full and was inherited ten years ago. We feel like we understand how to operate a successful rental unit as we have had no turn over. We are ready for the next step and ready to add to our portfolio.

What is the best method/strategy when it comes to financing with no mortgage in my mothers, sister, and myself's name. I.E., none of us has ever had a mortgage due to living with grandmother/uncle/ renting my entire life. Same can be said for my mother and sister.