Their addendums are their addendums and alterations or refusal does not conform to their policy5.

Also be wary that some building that may currently exist are non conforming and once torn down or altered must be made to conform.

If that happens, forget it.In my case, it was called a Residential Alteration.

(Design, structural check, alter design, final approval, etc.) 

I see all sorts of problems with what you have in your head there.Generally on an REO they will require you to sign their standard sales contract without any changes or alterations.

You might want to readhttp://www.bizfilings.com/toolkit/sbg/run-a-business/assets/limited-liability-results-in-personal-exposure.aspxandhttp://www.rjmintz.com/misc/asset-protection-articles/piercing-the-llc-veil/to get you started.Courts are piercing LLCs with troubling regularity, most often using the 'alter ego' theory.

The estate of course can choose to allow lender to foreclose on property but if they bring it current and want to assume the loan, they typically have the right to assume the loan without material terms of the loan being altered.

(((Is it possible to alter the lease during time of renewals?))))))

Consequently, you could have to alter your rental strategy or get the "leftover" tenants.

Also see page 2 of a version of the most widely used standard appraisal form: https://www.fanniemae.com/content/guide_form/1004.pdf which says: "This appraisal is made [check] “as is” [or] "subject to completion" per plans and specifications on the basis of a hypothetical condition that the improvements have been completed [or] subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, [or] subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:..."