You can leverage your HELOC and cash to cover the down payment, the initial rehab draws, and holding costs. 

Find three properties and make offers on all three at once subject to.  

There was lots of discussion in the department about whether the matter was in fact covered but my opinion ultimately prevailed. 

If hourly vendor vs salaried maintenance is what makes or breaks the deal...it's not a good deal.Your best estimates are likely to be from managers/owners of buildings similar to your subject property.

The basics of a seller financed deal are that the title co or closing attorney (if there is one) or seller’s attorney draws up the warranty deed transfers title, the promissory note evidencing the debt related to the transaction, and either the deed of trust or mortgage (whichever is being used) perfecting the lien against the subject property.  

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

But, ultimately, it could work if you don't mind a low ROI.It could make sense if you look at a lifestyle rather than an investment purchase and you're just happy to cover your costs.

You'll use that money as a downpayment on an investment and borrow more money from the bank to cover the rest of the purchase price.

However, there are some drawbacks to putting a rental property in a trust - first setting up a trust can be expensive and involve a lot of paperwork, the rental property may be subject to rent control and liability insurance may be more expensive for a trust.

Cover the boat and/or put a "NOT FOR SALE" sign on it and go about your day.