i suggest you seek outside professional advice. it becomes complicated. first your dads money hopefully being held by the exchange trustee must go directly to the seller. there are time limits which must be strictly adhered to. how your money gets in the deal may complicate closing. then the issue of the deductibility of the interest on your HELOC. its not a partnership obligation but you do want the deduction and probably not as investment interest so that needs to be dealt with. it won't qualify as home equity debt.
