The fact that they don't have critical thinking skills and limited income/saving, makes them desperate and easy target.

They actually have pretty limited reach as of now and focus primarily on major metro areas.

4) If yes to #3, then may I have the link for such a information from a Limited Partner (investor) perspective?

All that said, and to answer your question, I think a guaranteed check for 66% of the rent offers some peace of mind and limits potential loss. 

You are wise to limit your scope to a particular type of company.I have been in the industry for the past two decades, and from my years in the business, I can recommend a couple of other companies outside of my family. 

Most investors focus on what can they buy now with their available capital instead of simply what is the best investment for their capital without limitations. 

It also could limit your exit strategy if the market softensseeing a lot of fix and flippers in kc as an example getting crushed due to this

Keep your chin up and try to limit contact with your lawyer to dealing with actual issues with opposing counsel.

Does it need enough work that it will not pass a conventional mortgage appraisal, thereby limiting yourself to cash buyers?

That will leave you with limited funds to actually purchase the house.