They said they charge 1.65% (+$395) of amount funded, "... but provide proof of funds $1,000,000!"

I think if that happened to me I'd say "reach out to my agent to show proof of funds".  

@Debra Grumbach I like your point about her knowing the sales price (whether using option route or the contract with a later closing date) -- get her to focus on her future and put the sale behind her so she doesn't shop aroundAccount Closed nice touch on providing proof of funds, I'll work that into my discussion with her as well.

While we should all certainly discuss important developments,  no one here should suggest that anyone, or any company, is not "legit" unless they have specific proof.

Don't skimp on good glass.

For any property on the MLS most agents are going to want to see one of two things from the buyer:  Proof of Funds (i.e. a printout of a bank statement with your name on it and a balance at or above the offer price) if it's going to be a cash offer; OR a pre-approval letter from a lender if it's going to be a financed offer. 

Especially in a market like mine, we've been in majority of the listings and the sold comps, or if not, we've likely talked with an agent/buyer/inspector/etc who has and has given us the bullet points.

If so, is there any legal advice I could benefit from as we ensure our business plan, legal aspects are bulletproof?

Can an Agent ask the Broker for proof of the E&O policy or does this just never happens?

Also, in regards to your question about 75% of the income able to be used as part of the loan agreement, that normally comes into play once you have proof that you have previously managed rental property.