I've followed the sport since I was at school but only just got involved as a part owner (very small part).
Am in a syndicate that own a share of two 3 year olds racing in the Eastern States. one has won 1 from 5 and the other 2 from 9.
I'm loving it so far and have been lucky enough to get into 2 handy horses and also do well on the punt when they've saluted.
Initial outlay was about $5,000 and monthly training, vet, etc. bills are about $100. Not much to get involved at all.
They are both with top trainers and I get continual updates from them on their trackwork, trials, racing/spelling plan, etc.
Whether you own 1% or 100% doesn't matter as you are privvy to all the info.
It's something I should have done years ago as there's nothing better than seeing your horse win.
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