If your borrower is not paying you, it’s likely they are not paying other bills.

That way you don't have to bother splitting bills and being responsible for that.

Quote from @Bill B.: It’s “always” been the buyer that pays their own realtor.

I would third to hear @Steve Vaughan, and @Jay Hinrichs, I would also like to hear from @Minh Le , or @Bill Gulley as well. 

When I give the repair bills & purchase price to my CPA, how will this differ from my typical expense deductions, since this is such a huge expense (for me thus far) and the house will have been a work in progress all of 2024?

It is my #2 is not allowed but I defer to the experts @Dave Foster or @Bill Exeter. 

This account includes ESCROW IMPOUNDS being collected for the payments of taxes and insurance bills as their occur.

No formula can be accurate across the board because even “cookie cutter” properties next store to each other differ as to view, location to the street, topography of the land, lot size, physical condition of the property, past remodeling, quality of the mechanical systems, sunlight, utility bills, past use, etc.  

You are one car breakdown or medical bill away from paying rent since you don't have an emergency savings.  

Cash flow pays the bills, Appreciation gets you rich!