Am I borrowing their money and paying them after the deal is closed?

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.

If you agree that the electricity cannot be turned off, what is it that you think that the PM could have done to lower the cost?

Payments stay lower, cashflow better and it'll boost your balance sheet not to mention lower risk when things go awry. 

Best places to look for a HELOC are often the small community banks and credit unions close to the property.  

I don't think the typical sub-to deal would lead to equity skimming because they are likely close to foreclosure and there isn't enough time to rent the unit back out and make money allowing the unit to go to foreclosure.

Research landlord-friendly states with lower property prices and strong rental demand, like Texas or the Midwest.

Then they lock them in to a SLIGHTLY lower initial cost per kWh.

We looked at a couple different options as far as % downpayment and I figured I would refinance in the near future to help the payment get down lower.

If you are qualifying as a Foreign National, you will need to close in an LLC.