@frank chin how would you "personally guarantee it"?

Yep - fixed rate periods of 5, 7, or 10 years are most common.

Inspection Period after accepted offer?

Lot's of syndicators are pushing it but it's top cycle right now and lot's of their projections might not come to fruition over the hold period.

Over the course of the ensuing six months, I work through the very challenging short sale process,  massive amounts of paperwork and the engagement of attorneys, banks, negotiators, etc...During this entire time, this incredibly dishonest and deceitful buyer is limping along through the process, making counteroffers at the very last moment, ghosting for long periods of time and generally displaying a total lack of understanding any part of the transaction. 

HELOC is great if you intend to pay it down sooner than later - keep in mind that with a HELOC the interest will fluctuate over time (and jump a lot after the introductory period), and it can be called by the bank (ie: closed) at any time - it happened to us in 2009 after the last market bust and we had to scramble to get approved for another one by another bank.

I am saving up enough to cover 12 months of the mortgage and bills and putting them in an account separate from my finances to cover any periods that the other side is vacant or not payingBut I also can secure my future with this property, if done right.Please help!

Here's the deal specifics in question:The Sponsor is the guarantor & deal maker and has no equity contribution in the deal, but is liable to the debtGeneral partner collaborates with the Sponsor in managing the rehab & construction but also makes no initial equity contribution but contributes towards monthly holding costs with the Sponsor during the renovation period.

Because it is a guaranteed line of credit. 

You can get section 8 tenants, you can pretty much guarantee cash flow.