Klay Edward Holland was charged with the manslaughter and rape of 39-year-old Shane Cox in March 2021, in Melbourne's outer-west.
It was alleged Mr Cox broke into a unit in Melton armed with a knife and wearing a mask when he was met by Holland.
Mr Cox asked for money and drugs and was allegedly linked to others who had gone to the house to "stand over" a resident.
Prosecutor Kristie Churchill had alleged Holland overpowered him, hitting him with a baseball bat in the first strike of a series over several hours.
It was alleged Holland struck Mr Cox in the head with the bat, tied him up, punched him in the head and raped him.
Mr Cox was found dead by police a day later, with his hands and ankles bound, a pillow case around his neck and nylon tights wrapped around his face.
Holland's barrister Alexander Patton didn't challenge that Holland had hit Mr Cox, but contested the extent and number of hits.
Supreme Court jurors returned a not guilty verdict on the manslaughter charge on Tuesday afternoon. They deliberated for five days.
They did find Holland guilty of rape.
Holland bragged to others about the rape, Ms Churchill told jurors.
He will face a pre-sentence hearing on that charge in June.
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