We analyse FIR dust continuum measurements for 14 galaxies (redshift z approximate to 7) in the ALMA Reionization Era Bright Emission Line Survey (REBELS) Large Program to derive their physical properties. Our model uses three input data, i.e. (a) the UV spectral slope, beta, (b) the observed UV continuum flux at 1500 angstrom, F-1500, (c) the observed continuum flux at approximate to 158 mu m, F-158, and considers Milky Way (MW) and SMC extinction curves, along with different dust geometries. We find that REBELS galaxies have 28-90.5 per cent of their star formation obscured; the total (UV+IR) star formation rates are in the range 31.5 < SFR/(M-circle dot yr(-1)) < 129.5. The sample-averaged dust mass and temperature are (1.3 +/- 1.1) x 10(7) M-circle dot and 52 +/- 11 K, respectively. However, in some galaxies dust is particularly abundant (REBELS-14, M-d' approximate to 3.4 x 10(7) M-circle dot), or hot (REBELS-18, T-d' approximate to 67 K). The dust distribution is compact ( 1 M-circle dot, which is likely inconsistent with pure SN production, and might require dust growth via accretion of heavy elements from the interstellar medium. With the SFR predicted by the model and a MW extinction curve, REBELS galaxies detected in [C II] nicely follow the local L-CII-SFR relation, and are approximately located on the Kennicutt-Schmidt relation. The sample-averaged gas depletion time is 0.11 y(p)(-2) Gyr, where y(p) is the ratio of the gas-to-stellar distribution radius. For some systems, a solution simultaneously matching the observed (beta, F-1500, F-158) values cannot be found. This occurs when the index I-m = (F-158/F-1500)/(beta - beta(int)), where beta(int) is the intrinsic UV slope, exceeds I-m* approximate to 1120 for an MW curve. For these objects, we argue that the FIR and UV emitting regions are not co-spatial, questioning the use of the IRX-beta relation.