I've found no fewer than 9 multi family dwellings that are ripe for the plucking but I'm so broke I can't afford a free phone call. by my estimates, these properties combined would net me $8,600 a month in revenue depending on mortgage payments. it is painfully frustrating to see these numbers and not have the knowledge to obtain the capitol to put them in my portfolio.

I'm ok with an ARM or 25-30 year mortgage.

Or a mortgage broker perhaps.  

This income will be added to your regualar w2 or business income to determine your total debt to income ratio (DTI) against your debts and monthly mortgage costs.To calculate your net rental income, your total rents collected for the year are added to deductible expenses (taxes,insurance, interest, depreciation).

In this case you'd either need to pay enough to pay off the mortgage--in other words, pay full price--or pursue a short sale.  

I've heard this done with some homeowners in the past with 21st Mortgage Corporation.

I could continue to belabor this point, but I think you get it....Your best step forward is to read on the boards here, find a good mentor, real estate agent, good money lender (Bank, Mortgage Broker, someone you have done work for).

If the home is worth much more than what you are getting for it, then you can talk to your mortgage lender and see if they can use some equity in the home as your "down payment".

Also, is it possible to use HELOCs toward down payments and still take out a mortgage on future properties?

So no loan or mortgage on it.