Hi and congrats on getting a HiLo. Good that you are installing the electric brake controller. You DO need it to keep the trailer from pushing you when you have to stop.
You're going to need SOME sort of hitch to pull the trailer and you SHOULD NOT use a "bumper hitch" to pull a trailer of that size. I'm guessing your concern about setting up the Equil-i-zer hitch involves getting it adjusted properly so that it transfers the weight properly to the tow vehicle's axles. I think you can "almost" get it set up right before you leave and it should be OK to bring the trailer home if it is a 2-hour drive. HiLos are fairly resistant to sway due to their low towing height and if you keep your speed at or below 50 mph, you'll probably not see any sway.
Get the height of the tongue coupler on the trailer above the ground from the current owner with the trailer level. This is an easy measurement and he should be able to give it to you. Then, adjust the ball height of your WDH to about that height or slightly higher, maybe no more than 1/2 inch when it's mounted on your truck. Again, this should be measured with the truck on level ground.
The part you're not going to be able to pre-adjust or assemble is the L-brackets on the tongue of the trailer for the anti-sway, load equalizing bars. This takes a bit of time and is somewhat of a trial and error process. Additionally, you MAY have to cut (trim) a bit of the battery compartment door to install the L-brackets. This process is something you will want to do at home.
So, you will be towing the trailer without the load equalizing bars so your truck will be driving "nose high" and you'll have no "anti-sway" protection. But, if you keep the speed down, you should be fine. Take your time and enjoy the trip.
Hi-Lo 1707T - Tire Minder TPMS on Tow Vehicle and Trailer, 300W Solar Battery Charger, Equal-i-zer WDH
2014 F150 Platinum 4x4 3.5L EcoBoost SCrew