I haven't seen any quads in our metro make more than $2k per unit (unless in 78704), let alone $7k, so not sure where those metrics come from.

For a purchase generally application would be to review an ID, asset statements, and LLC docs if neccesary. 

I think what you're really asking is how to identify good value areas where rents may be trending upward but the prices still remain relatively lower.An important metric is tenant household income to rent ratio.

Are the people that give bad feedback on the reviews actually the lazy ones who sort of half commit themselves, put half *** effort in studying the material and submit half cocked deals to Jerrys buying team only to be rejected and when they dont make any money in 30-90 days just get angry and decide they will give a bad testimony on rip off report?

That additional review layer definitely can add value in oversight and deal selection.

We’re listening, but yea the app got a lot of negative reviews and the site needed a lot of work, so we prioritized the site.

Review their management agreement.

Your friend needs to review what happened during her underwriting.

I read @Dan Deppen's earlier response on this thread and I think what Scott might be doing is employing RMLOs to originate his loans, loan servicers to collect the payments and attorneys to review his contracts and make sure he is compliant with all the laws and regulations. 

This requires vetting their claims by reviewing EDGAR filings, property records, court records, Secretary of State filings and communicating with those who know more like city government, a more experienced investor, etc.