or is there a more proper approach you would recommend?

You can do well with a more simple approach, but it won't be easy either way.

@Brody Veilleux, I don't think there is anything wrong with this approach in general.

Is this a good approach, or should we look at a different shade or finish?

However, this approach might add complexity, such as additional tax filings, self-employment taxes, and administrative costs.

However, there are strategies and approaches you can explore to make this process smoother.If your PML is hesitant to fund directly for auction purchases due to the risks, consider structuring a partnership where the PML becomes a joint venture partner.

Other sports besides mt biking and skiing that you could cater to are white water kayaking and snowmobiling. 

I had trusted the wrong people, but I will invest again now with a more money orientated approach. 

LIke Remington financial and such. this one is very sophisticated in their approach etc etc. 

I would take the same approach myself.