I'm personally making my exit - I never did assemble a team (it costs money for one, then you need the manpower and time to manage it).

2) Set up a HELOC to cover the cost?

No if potential buyer have given you emd than you are under the assumption this is a serious buyer and will close on the deal but he has only a certain amount of time with his inspection period so if he backs out you still have time to fund another buyer. 

A CPA who specializes in partnership issues can also likely talk through these issues with you.3) Depending on the size of the deal - Keep It Simple - the number of really complex agreements that come across my desk for a $500k property is crazy, and it ends up costing as much to do those tax returns as a comparable $5m deal

Taxes: Be aware of potential transfer or capital gains taxes, depending on your state.4.

We also do not allow the tenant to patch holes or touch up the paint, because they usually do a terrible job that takes longer and costs more to fix. 

For example, they won't need to cover your personal belongings (furniture, clothing, etc.) because you won't be living there.A landlord policy should cost about the same as a homeowner's policy; it just changes what is covered.

Let’s connect and chat about potential opportunities—I may have some suggestions that could align with your goals!

I meant 120k just to purchase the property plus renovation cost, I can even go a little higher than the 120k if the numbers make sense.

In light of this, I have been exploring the possibility of pursuing creative finance options, specifically seller finance deals, as a potential means to achieve my goals.