In legal terms, you are purchasing ownership in the investment club LLC that owns the individual property. In practical terms, you are purchasing part of an investment property and the rights to all benefits associated with your portion of the property, including appreciation, monthly income, and tax benefits. Any major decision regarding the operation of the property will be put to a vote, with no one major shareholder determining the outcome (super-majority rules). If the property is purchased using leverage (a mortgage), you as the owner are not liable for the debt on the property. Additionally, the reserves capitalized in the initial offering of the property account for roughly 8-12 months of complete vacancy, and property insurance pays the market rent on the property in the event of a pipe-burst or similar events, meaning, the property would be effectively occupied during that time. When you purchase part of a property on mogul, you are a property owner and receive the pure benefits of being just that.