His credit is VERY bad..no one will loan to him for a reason..is this reason good enough or explainable for you to take a risk for him defaulting on the loan or filing bankruptcy on you? 

Are the applications through Zillow rental manager good enough for people who use a different property management software/website?

You probably don't need to pay for the flooring, though some rent abatement might be helpful if the tenant is good enough.

If the deal's not good enough to cope with (higher than 50%) leverage - why is it a "deal"?...

Many of the TK companies who also own their own mgnt company won't take on homes in this area, that should be a good enough reason alone to stay away. 

None of those things I mentioned above are particularly scary if you learn enough about it and get a good enough deal because of it, but do 10x the homework on it, because they all have major risks. 

Any reason why realtor.ca isnt good enough?

It's not even good enough for squatters to occupy.

I worked in corporate America for 10 years after school, never earning more than 60k per year dealing with office politics, favoritism, and having bosses tell me I was never good enough.

Get cooking on your own and forget the Wholesalers until you find a one that is good enough.