The condition of the property should be documented at move-in, with a signed report and pictures or video being an added bonus since it's almost impossible then to argue. 

Do you not understand how much more exposure a good agent in your area can get you?

I have an above market offer so what Is my legal exposure if I attempt to get out of verbal contract.

Since you already own the property, the bank is simply going to be making a decision on (1) their personal exposure to risk right now and (2) the risk position a HELOC on this property would put them in. 

Pay him back within 3 months, and add a bonus for him.

And if you need a bit fix (Cap Ex) you'll be glad to have thousands in the purse.The management fee is another nice bonus as you intend to pay yourself with it. 

And by pro grade that means multiple exposures of each shot professionally blended so that lighting is perfect and you can see clearly out the windows (easy to find people who know how to do blending on Fiverr). 

Bonus would be an ADU/granny flat for the grandparents when they come to visit. 2.

As @Joe Funari  Be sure the account knows how to do cost allocation studies on rental properties. another big items to research is, bonus depreciation.

Here’s the breakdown:List Price: $300,000.00Property Description: Split level home with a full living room, full dining room, 2 beds, 3 baths, and 2 bonus rooms in the basement that didn’t have egress windows (which is perfect for adding value).