Depending on the initial terms of the mortgage, I'll hold on to it for 2 years and then obtain another mortgage.  

This will give you an idea of how many pages it will initially include. 

did they lock the loan at initial application, and for how many days?

Recommend requesting the seller’s existing ALTA Survey, building plans & floor plans, site map, seller’s prior Phase 1 & environmental reports (easy for them to ask lender for copy), full rent roll detail (including renovated/classic unit indications by unit, sqfts, building #’s, full detail), aged receivables report (will allow you to identify hidden delinquency / bad debt yet to be reflected in T12’s), general ledgers / capex ledgers back at least 3 years to ID major capital projects or damage that wasn’t disclosed initially.

I Initially offered pretty low, was rejected, and then waited about a month until they countered much closer to my offering price.

Do we pay ourselves as 1099 contractors or start reimbursing ourselves for the initial capital we invested?

BTW this is what they sent me when I initially reached out:The due-on-sale clause will not be invoked at the time of transfer to your LLC, if you wish to go that route.

As of right now I am in just saving $$ mode since I will probably need to pay around 10k for a fire suppression system in the property as well as the initial 6k for inspection and state approval. 

And, it is not uncommon to tiles to have cracks, or crack/break after an initial installation.

To provide some context, she initially approached our company to manage her HOA.