Others have already commented appropriately, but I also wanted to point out that most investors set up separate LLCs for each property to self-contain risk, whi

Others have already commented appropriately, but I also wanted to point out that most investors set up separate LLCs for each property to self-contain risk, which could bias the ownership distribution you listed. A single individual may have 3 properties, each with their own LLC. In Texas you can use a series LLC to separate risk between properties with a single LLC, but it is the only state I know of that offers it (*I may be misremembering based on a BiggerPockets podcast from a couple years ago).