Two qestions on REO out of state investing

[Paul Pedro]

Hi guys, i'm looking at a few great deals in reo properties that i would love to buy, fix up and hold as rentals. they are all out of state, though, but they are very cheap and I can buy them free and clear with my own financing. I contacted the listing agents and got the mls sheets for them, as well as pictures and the standard purchase form. I know that these properties are fairly distressed and need a good bit of repair before they can go on the market.

So my questions are:
1. what's the best way to determine the cost of fixing up the property, particularly since i'm out of state and can't inspect it myself. I know some property management companies offer this service for a fee, but i can run the risk of them overestimating the repair cost for their benefit.
2. is it possible to finance the repair costs from either the equity of the house, or through some other source that would consider the arv? i've contacted a few traditional financing companies but they said for the most part that they will not give a heloc on a house that is not my primary residence or ready to be sold.

anyone who does this type of out-of-state rehab investing, i really need some help on this. i know its being done i just need a little bit of guidance from someone who has done this before. thank you so much.