Others would wish that CA would break away from the US and become it's own country.

There are lenders that do not have these requirements and if an Investor decides this is the path they would like to pursue, that is their decision. 

If you insist on going the path of becoming an agent, I would try to qualify for a loan (or find a creative way to finance) prior to leaving your current position.

Some common ones that come to mind in addition to a hot tub are a cedar sauna (gotta lean into that Minnesota sauna culture - check out Cedar and Stone out of Duluth for some really cool sauna ideas), snow shoes or cross country skis, or even just a nice outdoor firepit area with tons of firewood (you could also include complementary s'mores supplies for every reservation).  

I'm out of the country right now but I will reach out to him when I get back.  

The lady that bought them down was trying to buy an Island in Clear Lake CA that I had worked on with another developer in the late 70s and it could not be built on at all period.. she had this big dream would never have happened but Remington stole her 10k and she went on the war path..

Congratulations...you're on the right path. 

Jordan.. all you young Entrepreneurs need to be forming little co ops and buying dirt in the path of progress thats where fortunes are going to be made.. 

Let me know what is the right path for us - Trust and sole proprietorship OR trust and LLC OR something else? 

The owners may agree to carry part of the financing, but you won't need them to stick around to transition operations.After acquiring the properties and assets you wish, you would either run your own business, or part-out and resell some of the assets.From your post, it does not sound like parting out the properties is a viable path and where you admit to having no experience with vacation rentals or the resort business, you might want to explore purchasing the business with the current owners hanging around for a bit to help you get your feet wet.Regardless of approach, it needs to have legs to be worth pursuing.