If you are seeking other solutions to solve capital gains, consider it may make sense to participate in a direct syndication or fund that has a high degree of asset depreciation, which will allow you to offset all, or a portion of your capital gains and stop kicking that can down the road.  

One of of two does have a solution.

What's a good solution where both my cousin and I would benefit?

That'll give you a little time to find another solution maybe. 

Also has a company ready to go do come clear and flatten the property.default amount $130k repairs $25-$30kARV $200-$205kArea : C+rents in area $1000-$1200trying to think of a solution for him or what strategy would work best!

This is typically not a permanent solution unless you can get at least a 10-year balloon and exit before then.

There is always a solution.

Yes, I'm familiar with whis paper, but I didn't found a solution there, that's what i'm looking for actually. 

Fourth: Are there any creative solutions to this problem that i am overlooking?

I will definitely check into smaller banks and the network section and hopefully find a solution.