Also, explain how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.

We have multiple appraisals in hand that show an after repair value of about 2.3M.

A hard money lender who does NOT require a "subject to" appraisal  (which is an appraisal done with your scope of work in hand, and the appraiser gives you the after repair value) is 100% NOT doing you a favor. at all.

Looks like you removed CapEx in Proforma and increased repairs/maintenance by only $3,500?

Make sure the LTR rental income will service first all of the PITI then handle another 15% for vacancy, repairs and cap x.

My tax person says I can deduct a % of the repairs I've done based on the SQ Footage of the basement unit.

., but will need some cosmetic repairs. 

Which is better in my situation - doing repairs myself (possibly $50k) and increase the likelihood of selling (not incurring holding cost of interest on HELOC and PITI on 30 yr/mortgage).

Did you use a calculator or spreadsheet, or did you simply work out the math like rental income minus PITI, 8% for CapEx, 8% for vacancy, and 5% for repairs?

The people maliciously destroyed the property.Maintenance costs are much higher due to the tenant knowing that any damage they do, the owner will be forced to repair due to the inspections.