We see a lot of our clients in Denver and Colorado Springs have success with either rent-by-the-room or some sort of basement apartment/ADU setup.

For example, you are not allowed to co-mingle personal funds with plan funds or work on the property yourself.I think that cashing out an IRA to buy rentals is not a terrible idea if you can get decent returns in your market.

I've called regional and asked around, for Colorado, they may have to take off all drywall to check the electrical was run correctly.

You can get similar returns with co-living (padsplit ect), but that will likely not be a long term solution for you since you have not enjoyed being a landlord. 

I would also note your mention of not wanting liability, but offering to "co-sign".

Quote from @Jamie Banks: I have a MTR co-hosting business so part of our inventory are the ones that I personally own or manage through my business.

I explain to the potential renter what co-living is even if they have done it before.

If you think the syndications are bad now, just wait for the new wave of syndicators who spent $10k-$20K on a course and then wiggled their way into a CO-GP position, built out a social media presence and purportedly went from 0 to 500 units in a year get hold of LP money.

Close family passed and I'm now looking at buying a small house/cabin in Colorado to do STR. 

The markets I'm focused on for my next MTR are my local market here in NC as well as Colorado Springs.