That will cost you lots of donuts and coffee.   

Now, these outfits hire lots of influencers and affiliates, with no expertise, no financial background, and apparently limited ethics, to put it kindly.

If I am reading correctly, they are simply supplying the money for the partnership. 

No. 

Anywhere that has consistent or slightly growing population and a decent job supply may be a good fit.

Cost is $1000. 

If not rented at fair market rent, this property will just count as your residence, not a rental for tax purposes.Structuring the property under an LLC or land trust could trigger a due-on-sale clause, so check with the lender before proceeding.To minimize risk, consult a CPA for tax strategy, weigh financing costs, and draft a legal rental agreement.

You are adding costs and complications for no benefit at all.

Full credit/background check:  Look for missed payments, and any theft is always a no go.2.)

I also don't like funds for the lack of transparency (no DCF, no rent comp, no sales comp, no sensitivity analysis etc) even if properties are already identified.