PMs can be a goldmine of information, connections, and opportunities.

I took that money and bought two other places. 

It’s usually best to open a separate business checking account so your rental income and expenses stay organized and away from personal funds.

Private money and personal funds.

Or should we sign the contract now and set the execution date for two weeks later?

Yes there are alternatives for both beige and 30 year loans for no US borrowers.

I like that, unlike with say trading for a hedge fund, I can create opportunities for others rather than solely line the pockets of someone richer (that being said I still intend to make money).

As a sole operator, you have all the policies and procedures in your head and can apply them to many properties without referring to a binder.

I will gladly assign you some remedial tasks associated with my projects and for your efforts and generosity I will assign you Co-GP title and send you out into the world to misrepresent your capabilities and track record to raise capital from others.

You are definitely going to want to get a lawyer and as soon as possible.This will sound harsh.In your story, you have made a number of very poor decisions about how you purchased and managed this property.