However, should I be maintaining records and receipts of the expense of these repairs for capital gains and depreciation reasons in the future?

Before you move, clean the compactor, all the kitchen area and take a bunch of pics in good lighting and save them for your records.

pid=1782Houston Real Estate Highlights in May:-Single-family home sales increased for the twelfth consecutive month, up a dramatic 48.2 percent year-over-year with 9,702 units sold;-The Days on Market (DOM) figure for single-family homes dropped from 58 to 34;-Total property sales rose 55.5 percent with 12,100 units sold – the second highest volume in history;-Total dollar volume increased 100.5 percent to $4.4 billion;-The single-family average price reached a new record high, rising 29.7 percent to $387,105; -The single-family median price rose 21.7 percent to $304,000 – also a record high; -Single-family homes months of inventory registered an historic low 1.4-months supply, down from 3.3 months year-over-year and below the national inventory of 2.4 months;-On a year-to-date basis, single-family homes sales are running 29.5 percent ahead of 2020’s record pace;-Townhome/condominium sales jumped 103.4 percent with the average price up 15.7 percent to $238,839 and the median price up 21.7 percent to a record high of $213,000;-Single-family home rentals fell 26.8 percent with the average rent up 10.6 percent to a record high $2,025; -Townhome/condominium leases declined 3.5 percent with the average rent up 8.5 percent to $1,716.

We are still the owners of record. 

You obviously won two contracts out of your 25+ offers (that’s a pretty good record in this market).  

He’s mentioned 80/20.I’m struggling with if this property is utilizing my credit and I’ve already shown my track record of doing good work, why my split would be less than the prior.

Architects will draw until the end of time and can become costly if you're not clear on the project and also hiring the wrong architect that doesn't have a track record with the type of building you want to build will be costly.

Solid personal financials will help secure such financing before you have a proven track record.

You will pay loan costs/title/escrow/tax/recording and and and twice. 

If you pay her market value for the property through a lease option, she may be ending up with more money than if she sold for a cash price discounted for cash.Meanwhile, you control the property for a couple of years, I guess with the intention of being able to finance the final purchase once a track record of profitability is established.