Two members contributing $30,000 apiece would each receive a 50 percent stake in the company.In your example the non-cash member would need to work out percentage of ownership with the funding member.

In San Diego this policy is in place for a very large percentage of the C class and better units. 

You can structure the operating agreement to include your LLC as a member and define ownership percentage or you can do a JV agreement between your LLC and your brothers LLC with no membership or your brother can set up a new LLC to be a member of the property LLC along with your LLC. 

I have some real live examples broken down into percentage specifics.  

Having owned rental condos, I’d recommend skipping if there are any rental restrictions like a percentage allowed or requiring approval from the board because that is a big risk that can prevent you from renting the unit out based on your schedule.

You just need to be able to qualify for that conventional loan and have enough funds to cover your percentage of the acquisition and rehab with the hard money loan.

Percentages don't work...for anything. 

I think its a little steep percentage to you just to have you float your costs. 

It actually has a decently high percentage of owner occ houses compared to most northwest Amarillo areas.

Instead of using percentages, I’d create an actual capex and maintenance budget for the specific property instead.