Welcome to the game @Savannah Walbert, I would strongly advise you to start looking into what sort of real estate strategies are tax-efficient such as short term rentals with the "short term rental loophole" or multifamily / commercial with "real estate professional status".

How often will they update me on property status and issues?

It seems she would be taking a massive unwise risk by doing this in a fiancé status. 

You need to qualify for real estate professional status or use the short term rental loophole for any of this to matter though.

In CA you can't ask applicants what their immigration status is, so here you'd be off the hook.The problem I see, potentially, is that you contacted the employer, knowing he's illegally hiring this guy. 

In the last few years I have found that at least 80% of the properties we have rented are not as described-they don't match the photos online and/or they are not clean, yet they all have 5 star super host status.

You still have the illegal net listing part for sure, I think and this is where the law gets a little messy maybe you are correct and it’s not technically a fiduciary, maybe it’s owning honestly to all parties in a transaction but I don’t think the state Intends to have there licensees (which confers status to the public) that use that license to swindle old people out of ten’s of thousands of dollars, regardless it’s an illegal net listing but any definition.

Similarly, all subordinate lenders would be wise to contact the senior lender(s) and agree to keep each other informed of any adverse loan status.

You really need to communicate with your agent about the actual status of your offer before doing anything else.

For the smaller LP investor, finding the right operator is crucial but if you net worth is under 4M (what I call endgame status) then I would try to find a less institutional operator.