These asset managers operate the entire property on behalf of the investors.  

The borrower has a SFR, the are renting out to a tenant, who is running a Adult Family home/ Hospice operation.

There's a significant operational costs associated with condos with far less control.

Do you have income coming in from Canada as well or is this flipping operation your only source of income?

I'm not an educator whatsoever but I can give you an overview of my wholesaling and flipping operation here in Central Florida.

When someone pays me for an LLC, they are mainly paying for creating the operating agreement that governs the operations of the LLC.

You are more than welcome to come, here's the link to sign up for reminders https://forms.gle/VhCj1bEbNndPcPYV7 Feel free to reach out with any questions, we run a flipping and wholesale operation here in Central Florida. 

Typically, the request is at least for the organizational documents, operating agreement and the IRS EIN number. 

Not only for the reasons you mention (easily manipulated, depending on format), but also have next to nothing to do with what your operations will look like.While I do agree that you should try to verify income, both through lease review, P&L, and if they will share: bank statements and tax filings, at the end of the day, I don't put a ton of value in seller financials, for many reasons.  

It really depends on you and how involved you're willing to be, especially if any of your current at-large operators don't work out.