I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

I know the cost associated with a DSCR is much higher than with a Conventional loan but the commercial zoning may be problematic for Conventional.

He and I are members of the local REI (ORREIA: Oregon Real Estate Investors Association). 

So most agents are only putting about half of that $12k in their pocket, and out of that $6k they have to cover all of their operating expenses: licensing fees, MLS/ Realtor Association fees, continuing education classes to stay compliant with licensing requirements, monthly "desk" fees/ technology fees to their brokerage, health insurance for themselves and their family, errors and omissions insurance (required), marketing, car, car insurance, gas, clothes, computer/ software, cell phone, closing gifts, signs, photography, staging if they offer that, etc.

Building relationships with wholesalers and attending local Milwaukee REIA and Rental Property Association of Wisconsin meetups could surface off-market opportunities.

Deed holder is almost always named because its the easiest party to find...deed's are recorded and public.It also sounds like the Wyoming LLC is the deed holder and the transactional costs associated with re-titling the real estate is likely going to be more expensive than continuing to maintain the Wyoming LLC.

Or would the investors above been aware of the extremely high risk associated with these extreme high returns?    

The National Association of Realtors just named it one of the top 10 best markets of 2025.

Perhaps there is a realtor association that has this information?

I think one of them offers a public API.Once you get your license, you can join the CAR Chicago Association of Realtors and I have found them to be extremely helpful with questions like this.