Do you have an idea of the long-term rental amount, and would that be sufficient to meet the DSCR ratio needed to qualify for the loan?

The rules are more complicated than your one sentence, and even Tom did not have the time to explain all of them on his podcast. 500 hours is one way to qualify for material  participation, and there are other ways.

It must be formally exchanged to USD first.

If you don’t have a large down payment saved up, don’t worry—there are plenty of options available . . .”A trusted lender will go over the various loan types with you, any down payment requirements on those, and down payment assistance programs you may qualify for.

You can still qualify so long as you have verifiable income.

Does he qualify on his own?

However, does that include people who wouldn’t qualify?

Where is the form?  All

An LLC is potentially one minor factor that might contribute to the evidence that you are running your rental activity as a trade or business, but it's definitely not required that you have an LLC to qualify.

They can qualify for a new mortgage and show they are not the ones paying on the old loan so that the payment doesn't affect their DTI.