The balloon may commit you to future costs and potential anxiety, in my opinion. 

Accept that as the worst outcome, then go to work making sure that doesn't happen.Read the book "Stop Worrying and Start Living" if you deal with chronic worry or anxiety over decisions.

I really appreciate your encouragement about my future success, but I want to ensure everyone who reads this that I am ALL-IN there's not a drop of doubt (yess anxiety comes and goes but its healthy stress) in my mind that I want to do this.

I wanted a legit cash buyer who was willing to pay my $5k EMD and close fast and with cash so that I never had to go through missions and days of anxiety to sell my deals.

You seem to take it all in stride -- does this process ever cause you anxiety? 

Only when it was all over would I reflect on the job - whether I had anxiety about being in the space, etc. 

You wouldn’t be waiting to pull the trigger on the property, you would essentially be passing it up, and the time it takes to renovate seems like the amount of time to lower your partners anxiety, if he’s being reasonable.

Over eagerness, anxiety, and haste has gotten me more bad tenants than just taking my time.

When the few times the market is crashing and you have all this anxiety, the stock market shuts down and panic selling sets in how do you feel.  

By the way this endeavor is going, once the cost of anti-anxiety scotch factored in, there will be just a few dollars left for a needed physiological help.