James have gotten a little rough over the years and you have the reserve bordering one end.      

Something like this would certainly put a strain on my business even with my reserves.  

Who typically keeps the reserve account in a large multifamily transaction, buyer or seller?

You simply need to state something in the contract to the effect that you will have the inspection within x days and within y days of the inspection you reserve the right to void the contract and have your EMD returned. 

If you get 1100/month in rent and need to pay 810 to cover PITI, then your gross is 290 before reserves, PM, and other expenses. 

(Using the HELOC at all conflicts with my desire to fix and flip 2 or 3 properties to build some cash reserves before investing in the next buy-and-hold, but this seems like a deal that might be worth while to investigate further even at the expense of any flips.)Before I spend time and resources checking out that property, however, I would like to know if there even are any avenues any of you can recommend for financing this deal. 

If you plan to buy it, I believe you need to have the cash reserve to do so.

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I broker some hard money that can do 100%, but you still need cash reserves and the ability to make the payments. 

There are plenty that are not in the top 1% that could go a long time before they eat through their reserves because they live a more frugal lifestyle.