I get a background check, evictions report, national sex registry report, and SSN verification.

As you probably know, the price of $930,000 is an awful number regardless of the property, simply because the national GSE MF Financing cutoff minimum is $1M.

My credit check company, National Credit Reporting, does require a SSN.  

Examples would be the National Multi-Housing Council or the National Association of Home Builders (usually affiliated with local HBA’s per above).

On top of that, there are regulatory agencies that each and EVERY financial institution must answer to, and EVERY financial institution is audited to ensure that they manage foreclosures in a uniform and consistent, legal manner.

I would love advice on if this is a bad idea, if I should institute ground rules, or if I need to have people sign an additional form to use it.

Check for a local chapter of the Community Association Institute, where you will  be able to find a great deal of information and learn about how HOA's are supposed to be operated.

Which financial institute would you recommend for a DSCR loan ? 

To my understanding (having had some conversations with underwriters from several different companies)  there is nothing different between the coverage offered by Proper, Foremost, CBIZ, Allstate, Progressive, Travelers, American National, Liberty Mutual, Pure, or any of the other insurance carriers.... in fact the underwriters, E-suite, and actuaries from all of the companies hop between one another every few years.

Before I make a jump with this, I will need to collect my numbers and will throw it out for BP nation to tear apart the deal.