They should pay just like someone on a regular lease pays - cash or equivalent into your bank account. 

The debate is whether it would be better to use a HELOC for lump sums rather than just paying smaller amounts of cash monthly.

@Johnny Lynum we did offer them an aggressive cash for keys amount to get them out as soon as possible.

Just ensure the agreement is clear and formalized.Pooling reserves across properties might make sense if you’re confident in your cash flow and other contingencies.

-Max LTARV is typically 75% -Is a 12-24 Month Interest-only loan with a balloon payment - Minimum credit score is typically 600 -Interest on the Rehab is usually paid per the total drawn amount. 

Just wanted to mention that the cash out refinance funds are not tax free forever.

Such a situation is recoverable if there is enough time for a market recovery and the cash flow is at least break-even (or there is enough reserve cash to cover negative cash flow until it can turn positive). 

As Stuart mentioned, there are several issues that might arise with the property, which could definitely impact your cash flow. 

@Michael Challenger I scraped all the cash I could find and borrowed from family.

CoStar) to understand the rental market (rent amounts, absorbtion rate, etc..) but that service is fairly expensive.