I would not use our money for the next project.

Save...it takes a lot more money than most new investors believe (don't drink the Kool-aid that you can get in cheap) and residing outside the US will be seen as a substantial risk to most lenders which will limit your financing options. 

I was losing money every month and was done managing the property.

Once completed, the goal is to get them rented and then pull money out of each house to build a high performance spec.

Purchase price: $187,000 Cash invested: $15,000 Sale price: $259,000 I got tired of moving place to place and worrying about finding roommate, security deposits and not having enough money to deal with maintaining someone elses home.

However, this is not a cash out refi.Cash out refi is when you refinance an existing loan, with another one (i.e replace the loan) where there is enough money left over at the end of the process where you can put some proceeds in your pocket.When it comes to your strategy - just make sure you're being conservative with your numbers on the purchase / rehab if you don't plan on using other proceeds to payoff the HELOC. 

You can make money there, but it's hard money, and it's not forgiving if you get it wrong.

This is what blows my mind about the cults of seller finance - they teach you to pay anything for a home because you can put little money into it.

Wondering what are the different ways everyone got the money to put down on a property and the way to finance it?

If you elect to use a VA loan, that typically means you don't plan to put any money down.