Investing with parents in Sacramento CA - Tenancy in Common?

[JR Silva]

Hello BP! This is more than likely a CPA-related question, but I would appreciate any expertise and advice before I reach out to one. I am investing in a small-multi with my parents - mom and dad. The way we are splitting initial upfront costs, future income, future expenses, and equity are as such - 50% me and 25% each per parent. We are now to the point where the seller wants to know how we would like to hold the title.

In doing my own research on the CLTA website (https://www.clta.org/page/Cons...), it seems that the appropriate way to take ownership in our situation is by doing a Tenancy in Common. It seems this would allow us to take unequal shares (50% me and 25% each per parent) of the property along with comparable portions of the income and expenses. Also, TIC would allow my parents to leave their shares via a will to my siblings, which is very important.

I would appreciate any advice and/or expertise on this matter and welcome referrals to any knowledgeable CPA. 

Cheers!