Most lenders will do a hard credit pull before presenting a formalized term sheet, but that is after a property is under contract and your offer is accepted/you submit a full application and send in a credit authorization. 20% down with no STR experience is pretty normal on the market, but you will likely be using a haircut AirDNA projection instead of the full 100% to qualify you. 

So, back to making an offer...

Do you mind to share any resources (or another lawyer contact), where I can learn about these stuff and what structure is the best for now to stay as anonymous as possible while keeping your funds safe?

The lenders that offer DSCR to first time home buyers will be a bit more expensive and require a higher down payment approximately 40%-30% down payment.

Would love to connect with someone that could offer some guidance.

-Has no crawlspace (common for older properties) so we couldn't see the foundation-Drywood termite/wood decaying fungi damage seen on all the windows/doors/parts of the beam on the exterior, parts of roof decking and rafters in the attic-Old leaks/moisture damage seen in the ceilings and attic-Parts of the roof has patch work-Roof doesn't have any permits on record (don't know how old it is)Seller's offer to me:-Fumigation treatment for drywood termites (tenting the house)-Replace and repair all damage wood throughout the house-Replace the entire roof with a new permit-Replace one window in every room (not all)-Pay for a structural engineer to inspect the foundation-Offer to get quotes for repairs and have a 15-20K budget to make all repairs, house is 500K.

Hey @J Scott hope all is well, I just came by this thread and just bought your book on amazon and saw that bigger pockets actually offers estimation templates, sample contractor agreements and 8 other documents..

They offer a HML for 100% on rehab and purchase up to 65% of ARV on a flip.

Happy to be a resource for you.

I think I need to write my purchase contract to the trustees to see if they'd consider my offer as this is what the sister as the beneficiary and executor would like.