Sounds like you are on a the path so far.

You aren’t owners with lease options.

Partnering with a wholesaler sounds fine, but check the real estate licensing laws in your state before bringing a buyer for a commission.You might consider getting your real estate agent's license and legitimately earn what your skills, drive, and experience truly command. exactly wholesaling or bird dogging is not a life time or long time occupation  RE sales can be lifetime and if your any good at it at about year 10 you should be getting all your sales from referrals and such.

There is plenty of good turnkey properties on the MLS for sale that would cashflow using the 1% rule and you wont have to overpay for them on a "promise".

I believe in SLC, they are still requiring the owner to live in the main house (meaning you don't have to be there, but you can't rent it) for you to use the ADU for anything else.

Because you state your goal is to prevent liability I don’t think the LLC will do you any good.

Not only am I sorry you lost money but it gives a black eye to us legitimate lenders everywhere.

My first big leap was using a VA loan to pick up a foreclosure property – no money down, which was a game-changer for me! 

So, if you owe $725,000...then you owe more than the MAXIMUM possible loan is that you could get on a "cash out" mortgage.In order to do a cash out loan...you would need to owe LESS than 80% of the value of your primary home. 

You turn left, and you chase foreclosures.