Properties in highly desirable neighborhoods during a seller's market can often result in buyers taking a property as-is with little/no room for negotiation.The fact that they're agreeing to: a lengthier inspection period; paying for a structural engineer's assessment (Roughly a $1,200 value in my market); account for a repair budget; etc are all good signs.If you're getting this below the average value of comparable sales, it cashflows, AND you'll have peace of mind with necessary repairs & inspections, I'd say go for it!

Is a lender even willing to fund this?

I believe you can still do well here, especially cash flow compared to LTR's, but there is a lot more work to it so you have to up for the ride.  

I have a two part question for the attorneys in the room.1) Our lender required that my mother be listed on the LLC Operating Agreement at the time of purchase because she contributed funds for our down payment.

I am in the pacific northwest and prices here are high compared to some of the investing hotspots around the country. 

For starters, tune in to the BiggerPockets podcast and connect with local lenders and brokers.

The cost of living is extremely low compared to other cities and you can still many many positive cash flowing and 1% deals here.

Here is a summary of the book.https://www.nateliason.com/notes/long-distance-real-estate-investing-david-greeneThe book also mentions the importance of having a rockstar Realtor, contractor, lender, and property manager.Let me know if you need assistance. 

Create a simple spreadsheet or written list to compare the features of each and identify the ones that align with your requirements.

I am looking with a private money lender to partner with, now and in the future, to close the gap between bank funding and my available capital.