They were the very first tenants to live in the townhouse after we purchased it and did a complete rehab including new wood flooring (destroyed & scratched), new base boards and trim (chewed & scratched by their dog), new granite counters (stained), new appliances (all dinged & scratched), all new light fixtures (electrical not working & light bulbs removed), newer carpet (horribly stained, smells like cat urine when no cat was approved & torn), new paint (holes kicked through in multiple places), doors have holes kicked through, door handle on sliding door ripped off, etc.

I'm about to start throwing low ball offers around once my pre-approval goes through.

The price is less than $100 and you get multiple forms that are attorney approved, state specific, and written by fellow investors.

Our concern is all the items that are subject to buyers approval.

Question 1) Would the property be approved during current conditions?

I'd talk through it with your lender and get pre-approved given your present situation. 

Here’s a BP post on the same topic; https://www.biggerpockets.com/forums/49/topics/610831-oh-yeah-the-due-on-sale-clause-is-now-llc-friendly-sometimesRegardless, you should always talk to your lender and tell them exactly what you’re planning and get their approval.

That sounds about right.. for whatever reason I could not wrap my head around it as far as a lender approving a loan and also factoring in a borrowed DP etc.

Have Letters of Administration been approved by the court and issued to the PR?

When it comes to commercial lending will they approve you based on the income of a property or will they also take into consideration your debt to income ratio.