If it were me I'd pass or do a substantial escrow holdback until you knew if things were properly permitted, etc.

It would also force the individuals utilizing agents to get their sh*t together and be respectful of their time and skills.

I have formed 2 LLCs, each to hold the individual properties.

Partner Driven negotiated the purchase for $125,000, based on the property's need for substantial repairs and upgrades.

If that was true would they have not gone down substantially when rates went up?

Many newly build, luxury high rise condos were not qualified for any financing because the building didn’t have the required number of units owner occupied as required by Fannie, Freddie, and individual lenders.  

As for the refinance aspect, if you're going from LLC to individual (or vice versa), at my shop you would just transfer title into (or out of) your LLC at the close of escrow, so that part is no biggie.

If a cash out refinance, many lenders will allow the cash out to satisfy the reserves requirement.DSCR lenders generally let you vest either individually or as an LLC.

Offer is substantially above asking pricef3.

It's not liked by most Building Departments because it puts substantially more occupants in a building and each with locked individual quarters and highly taken advantage by slumlords creating fire hazards.