I have a $30k HELOC which funds down payments and or repairs.  

I am also a licensed real estate broker with Nottingham Realty Group and I have had a lot of success helping investors (both local and out-of-state) buy investment properties, repair them, and either lease them to quality tenants (BRRRR) or sell them as a flip (BRSR).

What's the property worth and what kind of repairs are needed? 

Heck, there may be a friendly owner who is willing to give you a walkthrough and break down some of the repair costs. 

In my mind 70 cents on the dollar after repairs?  

In my experience, any NSF issues hit on day-1, prompting them to re-submit the rent.

So this is happening here:  http://www.wweek.com/news/city/2018/05/08/portland...As a landlord who does her own repairs, this is terrifying to me. 

The tenant/buyer put $10k worth of repairs into the place.

This would allow me to make initial repairs without being strapped for cash.   

The basic formula is ARV - Needed repairs - 3-5k for assignment fee = offerexample $45,000 - $10,000(repairs) - $5,000 (fee) = $30,000(offer)Hope this helps