We negotiated the electric rate with the current vendor and were able to get a nice fixed rate of less than 5 cents a kWH.

Why wouldn't you offer the vendor the price of the property minus your repair estimate (+ buffer) and leave it up to her/him to discharge their HELoC out of proceeds just as they would a remaining mortgage note?

What questions should I be asking the vendors?

In either case, typically the Real Estate agent/office will have their preferred lenders, escrow companies and other supporting vendors that they routinely work with.

@Shaun LapsleyGo onto the REIA club website page locate at least 1 club office and several vendors.

Reconcile the vendor reports when they come back.  

HVAC and/or boiler reportsExhibit D Property management license (if applicable) Certificate of occupancyExhibit E Certificate of insurance Insurance claims history for the past 2 yearsExhibit F Commission agreements with the leasing staff Current property management contract Any other vendor contractsOther Requested Due Diligence Documents Last 2 years of financial operating statements A year-to-date operating statement Last 6 months of bank statements Utility deposit register Utility bills for the last 2 years.

@Kelly Maddox best advise I can give a busy professional like yourself, based on my experience, is to make the time to digest the information on the turnkey process and turnkey promoters and vendors right here on BP by setting a keyword to your profile, check out @Jay Hinrichs turnkey review website, educate yourself on the ins/outs of being a landlord before you jump into OOS rentals.

I've done Vendor take backs in the past.

Seller refuses to sign Cancellation & Release letter so we can get our EMD back.Other facts...seller does not have a realtor (used a third party vendor to put on MLS); money is being held in escrow by his attorney.