How to structure equity deal

[Ian Gilligan]

Hey BP, 

An investor is willing to sell my partner and I a package of 6 homes. Would be buying pretty significantly under market value, with rents very under market. Once vacated, they'll all need to be turned, to varying degrees. I am trying to figure out how best to structure this deal so that we'll be out of pocket as little as possible, but also not have to come out of pocket a ton on each rehab as they become vacant. 

Maybe finance them, and have an equity partner provide down payment? Could we also have equity partner provide draws for the rehab? 

Also considering a big private loan, but as there's no telling how long before some of these will be vacant (they're all MTM but don't want to jack up rents so high that everyone leaves) so I don't want to be in private money for an indefinite period of time... 

I've never bought a package before and just need some insight regarding possible ways to structure. 

Really do appreciate your thoughts.
Best, Ian.