What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?

We only require a soft credit check as well. 

They don't ask for any documents just do a credit check and you fill out their application.

The sub 550 credit score people come out of the woodwork to apply for this home. 

Point Breeze has numbers to back up the hype, big reason is that it has exploded by  Ori Feinbush from OCF who can be credited with blowing that neighborhood up, as he is doing with Grays Ferry, specifically evident of the properties closer to 25th street and even more so as you get to close to Washington where you see similar values and new builds as you do in Whitman and Pennsport (just the southern part really a few blocks north of Whitman, you're on point that the rest of Pennsport is better).  

If Don fails to pay, the bank will certainly go after me, it will at least ruin my credit and will likely take me to court.

The property value must be a minimum of $250,000 USD, and the credit score requirement is at least 700 points, among other conditions.

Bank Credit Line How did you add value to the deal?

Lauren Lauren, there are hundreds of syndications (and crowdfunding deals which are essentially the same as syndications but are available on the Internet) available each year.

As long as the rents can cover both the current PITI and proposed P&I payment, credit is at least 680. you should be able to qualify.