https://www.biggerpockets.com/forums/49/topics/329...That's just one of many threads that have almost identical wording in the title. 

@J Scott I am in an almost identical situation to you.

Or does that issuer have a burden to actually take on verification responsibilities?

I run their PACER and court record search, I do rental history, I do criminal history, and I do basic job/school/income verification. 

Your answer is different from a CPA real estate specialist who says that providing routine weekly schedules itemizing the weekly hours with various ( over 100 ) different job duties, do indeed provide the record keeping necessary for his clients to satisfy any IRS audit verifying they are "active" investors.A person can provide records which satisfy the IRS showing an average of 20+ hours per week managing a real estate portfolio to provide for active verification.

You should look for a no-income verification mortgage.

It provides some privacy as beneficiaries are not listed on any public record- the trustee would need to be subpoenaed to reveal the identity of the beneficiaries.  

Here's the text:If the records of a series are maintained in a manner so that the assets of the series can be reasonably identified by specific listing, category, type, quantity, or computational or allocational formula or procedure, including a percentage or share of any assets, or by any other method in which the identity of the assets can be objectively determined, the records are considered to satisfy the requirements...

Use a reporting-only option where you don't change the way you collect rent and reporting is provided for your tenants with some additional verification since the payments aren't being processed by the company. 

It's extremely user-friendly, very detailed and almost as soon as you submit it, you'll get your results for: credit history, income verification, eviction records and criminal background.