Multiple non-related owners, one property with hopes of more

[Nikki Yankowski]

I am advising on a deal where there will be multiple owners, not related, buying a multi-family under an LLC with intentions on buying more together if this one works out. Some can contribute more than others. I suggested writing the terms out just as a condo association would their bylaws. Where a person would be responsible for just a % of maintenance and upkeep based on their share of financial contributions in relation to the total agreed upon value. This % would apply toward the return on investment as well (rent, refinance, or sale).

Does anyone have a template or better way they know to do this?

Thanks in advance!