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Local Pickup "rules"

I've sold something on eBay and mistakenly selected "local pickup" as one of the shipping options. The buyer, who lives 2 hours away, chose to pickup. Sold on Dec 26th, they wanted to pickup on the 28th. Arrangements set, then on the 28th they asked to pickup instead on Jan 2nd. I'm getting the sense that this buyer is flaky (not because they asked to delay pickup, but other reasons) and don't know the "rules" as they apply to timeframes for local pickup.
 
Can I end up holding onto this sold and already paid for via paypal item for weeks or months till the seller is ready? If it comes to it, can I cancel the transaction and not get a defect?
 
Also, I've been reading that there may not be paypal protection for me on a local pickup, even with the eBay QR code and the tracking that that provides.  Anything I should be doing when/if this pickup actually happens?
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