The financial partner can feel confident when the person providing the TK property stays on in the deal...and doesn't just dump it and run.  

Everything I've been reading leans towards an LLC because there's more flexibility, etc. if I even need liability protection outside of good liability insurance. 

Stories3Price/Unit$86,458.33Year Built1972Property TypeMultifamilyLot Size0.56 ACProperty Sub-typeGarden/Low-RiseAPN / Parcel IDWHAV-000048-000023 Financial Summary (Actual)Year2017Operating Expenses$101,837Scheduled Gross Income$245,376Net Operating Income$134,870Effective Gross Income$236,707Pre-Tax Cash Flow$36,876 Debt & Equity InformationDebt TypeExistingAmortized Over30Loan Amount$1,660,000Annual Debt Service$97,994Interest Rate4.25%Down Payment$415,000

If that were to be comprised it could ruin you financially.

Yes, you are still protected as a single-member LLC... as long as you actually are a separate entity.

Send them to a financial advisor.

I use Ally financial for my rental checking and rental reserve account, about the best interest rates you'll find for FDIC insured bank accounts.  

The problem is some of them infiltrate the same apparatus established to protect us from those shady characters. 

They still have a mortgage on the property and the bank will try to protect their interest.  

Are they willing to pay you now for a background check and financial report?