@Kayla M. sadly as other have said, often out of state investors are paying more than is worth, and it can be tough to get back out of a deal.

I'm trying to see what are my options as to how could I structure a deal for the renovation of this project and the potential partnership when it’s completed .

Three out of my first five purchases were from the MLS.

Still open to them of course.  

Can't see much of the property history since I am in CO.

What do you guys think about this strategy of opening up a HELOC in hopes of freeing up some of my other capital.  

Here is a comprehensive guide to help out-of-town parents navigate the process effectively.1.

The Greenhouse on Gregg is a great investment that often serves the University of Arkansas visitor population.

Getting a rental license as an out-of-state investor is doable, but you’ll need to manage inspections and compliance.

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs.