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All that said, and to answer your question, I think a guaranteed check for 66% of the rent offers some peace of mind and limits potential loss. 

It also could limit your exit strategy if the market softensseeing a lot of fix and flippers in kc as an example getting crushed due to this

If there are two borrowers, then of course if a POA is used it would be limited to one borrower...If both borrowers were available and/or decided to attend they would both sign the loan and therefore no POA.2.

In reality it was quite a number of other people doing it together and the person making the post only owns a small percentage and they’re really making the post in order to gain limited partners. 

Limited partners usually cannot coattail REP status.

I have used ALE successfully but 4X rent is not what we got we got 2X there is a limit in the insurance polices as to what the insurance will pay but its a decent move at least it was for us

Does it need enough work that it will not pass a conventional mortgage appraisal, thereby limiting yourself to cash buyers?

4) If yes to #3, then may I have the link for such a information from a Limited Partner (investor) perspective?

However, I have also studied this and have seen that the majority of those who lost was because of themselves.