Business Continuity: If you invest with partners, a properly structured key person insurance or buy-sell agreement funded by life insurance can ensure a smooth transition if one partner is no longer around. 

So is this just as simple as showing how much the property makes or do they also look at personal debt to income, credit score, reserves etc as well.

Does that fit your personal criteria for a return you'd like to get on your investment? 

The seller purchased the property to do a favor for someone and the person died.

Some packages genuinely improve property performance, while others might feel excessive.

You’re still going to be personally sued when something goes wrong. 

The person calling you is on a money grab. you do not need a wyoming trust. 

This is generally correct, DSCR loans do not look at all at your personal income.  

We also have relatively low expenses (personal expenses, mortgage/escrow on other rental property, and escrow on current property) that are around ~$120k/year.

Remember there are income limits, contribution limits and other personal factors to consider.