Of course it will probably never be perfectly 50/50, but do you think that’s a low estimation or high estimation for extra expenses on a property?

Having the extra rooms and bathroom seems like a waste since it's just the two of us right now so I was hoping to maybe make some money off of them if at all possible. 

On the BiggerPockets Rental Property Calculator there is a section known as Loan Detail.  

I like having some extra buffers and protection for a first time buy, in order to get myself oriented in the process.

Read this threads on partnering: How to Effectively Conduct Joint Venture Agreements as a Real Estate Investorhow-do-i-properly-construct-a-purchase-with-a-partnershiphttps://www.biggerpockets.com/forums/51/topics/591...Taking-on-partner-s-and-limiting-our-liabilitesQuestions-for-capital-partners/Real-estate-partnership-questions/And here is a diagram to help guide you on this quest - talk with @Scott Smith to get implementation details:

Without knowing the details.

Let me know if you'd like any more details on my answers!

Youll start rehab and work out the details of the escrow and getting the 30k out.

If someone is interested in renting then I have a detailed discussion with them about the requirements.

You can get an opinion from your CPA to then talk to your Attorney about that opinion  in more legal detail for legal advise, and you can talk to your lawyer about tax issues for an opinion (if not a tax lawyer) to then talk to your CPA about it and its tax ramifications.