The properties are owned by the partnership, and my share is pro-rata of my ownership percentage of the partnership. 

Each member makes contributions and receives distributions pro-rata to his/her initial investment.

Your investors can come in on a project by project basis or in a pro-rata basis.

All things are relative with regards to any lease that is the so called "net" format vs those that are "gross" or "modified gross".The term net lease has been chopped up over the years to include "net - N", "double net - NN", or "triple net - NNN".N - generally refers to the actual property operational maintenance costs.NN - generally refers to the property maintenance and limited other costs, i.e. adding in insurance or RE taxes or some other limited set of items.NNN - generally refers to all associated property operational costs.For clarification a "net lease" means that the tenant is fully responsible for some or all of the property's operational items; On the other end of the spectrum is the "gross lease" which means that the owner is fully responsible for the operational items; "a modified gross lease" is a combination of the two and usually includes an expense stop for the tenant.Expense stop means the owner is responsible for all costs up to that point, i.e $3.75 per sf per year, and the tenant is responsible for the pro rata difference over that amount.

They will only pay the pro-rata amount based on the age of the roof if you need a new roof.Personally I have replacement policies with high deductibles but I am tempted to switch to cash value policies.

Then you stuck with a pro rata interest in a property no one wants!

David MidgettI just negotiated 5points and a once off fee of $3000 For 6 months and if we go over the 6 months we pro-rata the interest to an amount of $400 a month extra.

The exclusion is reduced pro rata by comparing the number of years the property is used for non-primary residence purposes to the total number of years the property is owned by the taxpayer.

Con lose $14,000 of value before calculating the costs of sale. 6% commission is another $7,560 Pro rata taxes at sale say $2,000 to $3,000.

Its simply a mechanism for allocating property distributions and tax attributes in a manner other than a simple pro rata approach.