It's not how you divide up the money.

Cash-on-cash return is calculated as annual cash flow divided by total out of pocket cost. 

Anything above that amount would be divided between them and added to their monthly charge.

The mortgage interest, property taxes, and any qualified casualty loss will be reported on Schedule A as an itemized deduction.2.Home rented for more than 15 days:A.Income: report all the rental incomeB.Expense: the expenses must be divided between rental use and personal use.

The Project Idea: Basically I am looking to purchase a large piece of Raw Land located in Colorado that is cheap and has the ability to be sub-divided into separate section.

@Arthur C.My reply will be under an assumption that an attorney (which I'm not) can confirm the following facts:You owned the combined land 50/50, and you owned the combined improvements (2 units) 50/50.If so, then my interpretation would be that you're not really exchanging anything, but evenly dividing the jointly owned property, without any tax consequences.

If you can get some estimates consider the costs to divide the utilities with separate meters.  

The credit card utilization rate is defined as total balances divided by total available. 

Be sure that the weekly rent is monthly rent divided by 4 and biweekly is monthly rent divided by 2.

Remember the grass only gets cut part of the year, so if it costs $40 every 2 weeks and it needs to be cut for 16 weeks of the year, take the $320 and divide it by 12 to add to the rent over the year.