I've read about examples of structuring the the LLC so that a % of the share/profit goes to my friend and I for doing the "work" and the other % of the share would get allocated pro rata based on the investment amount that LPs contribute. 

Would i defer 3 months then pay the balance pro rata for the rest of the year..

Tenants pay: Rent and utilities and their pro-rata share of all of the building’s operating expenses, including maintenance fees, building insurance, and property taxes.Landlord pays: Base building maintenance and repairs.What to know: This is essentially the opposite of a gross lease.

In order to come up with the pro-rata (daily rate) divide the monthly rent by 30.  

Let’s look at an example of how this might look:👉Investors contribute $900,000 of equity needed to close the deal👉Sponsor contributes $100,000 of equity needed to close the deal 👉Sponsor gets 30% of distributable cash as his “carry” incentive For a $100,000 distribution:👉Investors (including the sponsors investment) will receive $70,000 👉Sponsor will receive $30,000 for his sponsorship role 👉Of the $70,000 to investors, outside investors will get $63,000, and the sponsor (in his investor capacity) will get $7,000, based pro-rata on everyone’s invested amounts.This structure is sometimes preferred for its straightforward simplicity and perceived fairness to all the project participants.

She can will have to pay capital gains as well as a pro-rata share of depreciation recapture associated with that portion. 

You'll be responsible for the exact pro rata share of 2015 taxes, ie. if you own it for 25% of the year, you'll pay 25% of the taxes for the year. 

The fund still had income of $833.34 but it lost value when it set aside the $50k.If any one of the investors were to request redemption they would have a pro-rata share of the $459,166.67.

There are companies out there that will bill the tenants for their pro rata share of water, sewer, garbage, etc. 

@Annette Ammarell, if you can build each cabin for $50k on land worth $10k pro-rata, and sell each for $125k minimum, well done.