But the reality is that the dividend represents the allocation of the net earnings on the company's general fund to every policy owner.

If your county tax assessor has allocated 75% of the property's value to the dwelling structure (improvements) and 25% to the land, then your depreciation basis will be 75% of your purchase price over 27.5 years.

My minimum take of any deal is 25% where I share in cash flow, allocated tax benefits, and back end profit. 

Your a 1099, so you have to pay your own tax's, so after allocating for that what you ACTUALLY get is $3,624.40You spent 60 hours talking to and working with potentials that resulted in 0, to land on this 1 that DID result in income, and spent another 30 hours in total on this, making for 90 hours labor investment too achieve $3,642.40.   

If they know you have extra cash allocated to the project they are more likely to come back to you with their hand out at the first opportunity.  

I'm still debating if the full amount will be allocated in Detroit, but I would be interested in concentrating my holdings and focus on a combination of buy/hold rentals, and flips.   

Following just a bit, I always include management, it's an economic allocation to and for your efforts.

When 25-30% of my gross rents are allocated to paying the property taxes, it just doesn't make sense to hold anymore.

I see no allocation for PM.  

A fairer allocation of risk here would entail your partner signing for the loan and your providing the collateral.