Your name would appear on the note and deed-of-trust or mortgage as the lender beside several others (ten max in CA), along with your pro-rata ownership.

From what I have gathered on several financial advice websites, in order to calculate depreciation for an owner occupied rental/duplex you follow the below steps: Determine the house/building value separate from the land Divide this amount by 27.5 and claim the pro-rata(percentage of owner occupied vs rental occupied) amount as the depreciation expense for the year. 

Net income is distributed pro rata, and I have the option to buy additional shares in the property at an ascending cost of 5% per annum at a maximum rate of 10% of property per year (so in theory you own for eight years).

It could be a pro rata share of income and expenses based on percentage of funds provided by you and them.

In theory, if you establish a reserve account, and deposit to that account the difference between actual expenses (including the pro-rata portion of known periodic expenses such as insurance) and 50% of gross income, you should have adequate funding when it IS time to replace the furnace, or the roof, or other major expenditures.

But I think: heck, if I could spend $200k on an $800k cabin with some acreage, or by a lake, or whatever, and use a Google calendar or something to pick who gets which days -- amounting to a pro rata share for each owner -- and we each pay $7.5k a year for cleaning and insurance and property tax and such, that would be awesome.

The investor has to assume their pro rata share. 

You may become a partner, which involves some pro-rata fees and equity.

In the event that any utility or service provided to the Leased Premises is not separately metered, Landlord shall pay the amount due and separately invoice Tenant for Tenant’s pro rata share of the charges.

I have often wondered how you pay pro rata taxes, insurance, repairs, marketing, etc.