I like long walks on the beach, fine dining and travel....woops!

What is your ideal terms of such?

You want to make sure the project is going to be profitable, especially if you are taking on short term debt. 

@Lu Xia, As long as the trust and LLC are both disregarded entities then yes you can sell as the trust and buy as the LLC. 

What strategy are you going after and what are your long term goals?

I bought my first rental back in 2005 so it’s definitely a long game for me.

Long/medium/short term rental?

If you do not understand how NOI and cap rate determine value, learn it even if in theory it only applies to commercial RE.If you flip, you realize the gain in the short term.  

I estimate how long it will take to do the job, then I offer that as my first counter. 

Be careful if the actual contract has any terms about assignment or allows their private access to the home before closing, as many "cash" buyers out there try to tie up your house for a low figure, then sell it higher to someone else before they decide to close it with you.