So some basic numbers on these homes:Total estimated value of all homes including their primary home: 5.8MTotal remaining loans on homes: ~900kInterest rates on these homes range from low 3’s to mid 4’sSo two questions: 1) Do I need to cash out refi each individual home if I want down payment money or can lenders lend based on the entire portfolio?

With $50,000, I could cover the down payment and some renovation costs.2.

The off-market properties I'm seeking out personally are almost always low end (of the local market) , 95% raw land or tear downs.

You may need permits for plumbing, electrical, and structural changes.A HELOC can be a flexible and cost-effective way to access funds for a down payment on another property. 

Think, the USDA brining armed feds to shut down Amish farmers for selling their unpasteurized milk, or the FDA allowing harmful chemical additives in our food that are banned in hundreds of other countries.

I am hoping to get a head start on my REI journey before I graduate.

This can be advantageous because it often allows for more flexible terms, such as lower down payments and sometimes even lower interest rates.

The borrower / partner should have assets to show  (25% down payment + closing costs+ reserves)5.

Sales rep who finds the buyer and get's the down payment to secure the sale gets 20% of the fee.I tried this model when hiring reps and realized it didn't work since I was paying for all the overhead, supplying leads (like you) and the reps were not staying on top of the lead calls.

We have it broken down to different professions.