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.

There are some projects that I’d like to do (between the 5/22 closing and 6/1 when tenants move in) that will require a building permit — can I apply for a building permit so that the whole approval process can start now so that we’re set to move forward with our projects once we close?

@Ariel Lisogorsky Just got pre-approved at https://caliberhomeloans.com/ for HomeStyle renovation loan. 

Generally, it's an issue when you have more apts than the CofO but now the other way around.As far as work without permits, if Mortgage banks in NYC didn't finance those, at least 20 to 30% of all buildings would not be approved!