This approach will help minimize the potential financial risks associated with renovations and working with contractors.

A terms sheet will tell a pro whether you know what you're talking about and give them a structure of the deal you propose, but it won't establish credibility with respect to your financial ability to pull off the deal.

My end goal is to have financial freedom in 10 years or less by bringing in $10k/month.

This implication is if a successful Brrrr results in no Money invested in the property and non negative cash flow when allocating for all expenditures, then price of acquisition is not relevant (because you acquired it at no financial cost).  

How often will you see financials?

I've already had to turn multiple people away after running their credit reports, so I can already see that it's not going to be financially feasible for me to be covering the fees myself.

And it definitely CAN lead us to financial freedom. 

Payment Terms & Renovation LoansA financial agreement is the backbone of any contract.

They appear to be financial planners.

On the other hand, investing in some repairs (if financially feasible) might significantly increase the property's market value.Remember, each property is unique, and what works for one might not work for another.