I agree with @Michael Baum to call and make sure there is no ding on your account. 

I compared other properties in terms of age, sq ft, acres, beds, baths, basement, garage and a subjective measure of interior condition.I have a huge problem with the automated comps (Zillow, RPR, etc) because they could not account for the interior condition. 

Long term money, you could invest into a taxable account so you have access to it whenever you want.

The only thing the bank required is that I had a checking account with direct deposit setup into their account. 

If you go with the partnership route1) You need to manage the money going in and out of the business bank account.2) File a partnership return and be responsible for issuing K-1's3) make distributions to you and your partner for cash flow that you receiveYou will likely spend many hours on a nice gesture.I may want to consider instead to give a christmas gift or a bonus for early completion of projects.

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

Discuss with an accountant before implementing. 

Quote from @Daniel Baker: Hello everyone, Looking to get a little insight into what things I should take into account when selling a property.

I'd hate for the BP admin (@Jonathan Greene) to lock your account as you may have valuable information to share with novice investors...this just isn't the right place to do it.Now, @Mario Morales, what price range are you targeting for the new property? 

Sellers view it the same and are trying to find someone naive enough to not account for it.