I have yet to confirm if it's legit because the license details are behind a paywall. 

You confirmed what I was thinking. 

I was told this by a lender, just looking to confirm it’s a thing.

No, I have not seen anyone pull this off.Additionally, many lenders want no part in this because if the relationship between the two (or more) veterans goes south, then the loan is in trouble.However, I have 2 lenders that confirm they actually do these, but do so few and far between.

Get a deep understanding of what the income and expense for the properties are and try to identify future capital expenditures that might need to be reserved for.

There is going to be a big shift in the market when Florida starts to force HOA's to have full reserves. 

I'd make sure you've confirmed deposits have been transferred to the new PM along with any rent they've collected or your own deposits they may have (my PM keeps $500 of my money to cover any repairs that may come in). 

I need to confirm with my CPA but that is what I have been told (note: I own them through an LLC).Previously with it being through the LLC is was taxed as earned income.

I am not used to using DSCR as a metric, and I want to confirm I understand what you mean on this.

I am currently going through the numbers and trying to figure out how much it would rent for, what kind of maintenance reserve they should keep, etc..