Or you could each contribute your interests in the property into a new LLC and have the LLC then become the owner. 

Contribute in increments of $5k to the pool - you would receive "read access" to the pooled account3.)

We're thinking of using Landlord Studio or Rentec to keep track of income/expenses at the property-level, but would still need a way to track expenses for the organization (not associated with any individual property), as well as tracking capital accounts for owner contributions. 

Basically you are finding cash outside the LLC and use it to contribute to the LLC as your capital contribution. 

I do agree with the notion that those things play into the decision and should be considered.

You should also be aware that seller contributions on investment properties are limited to 2% of the purchase price.  

I hope that I can contribute to the community here!

The financial returns are just table stakes, and it's >50% about creating and contributing something and having an impact on a place. 

We operate under an LLC with a well written agreement so everyone understands their roles, responsibilities and financial contributions.

So if the percentage is based on the contribution from each partner, then the partner that puts up the 20% should be out of the picture once they get their money back...plus whatever agreed upon profit they were looking for...or at least they should have their percentage dropped, since their participation ended.Keep in mind, the participation from the other partners, that are responsible for all the rest of the continuing work, goes on, and on, and on, ane....