More concerning to me was that his sales pitch highlighted several 'risks' that his structure was designed to avoid that were not real risks in my situation. 1.

I'm actually in the process of purchasing a turnkey property in this zip code.

Some folks who subto also use an executory contract and it seems like that would make it a smoother process.

Wanting to buy oos for my first deal.  I have some simple questions if I could get in contact with someone please?

Don't submit the bank statements to underwriting unless you actually need them to close the deal however, as it can cause additional steps in the process for you and your client (if an underwriter sees money moving around, it can cause you to have to paper-trail the funds back to their source, which often isn't a lot of fun).If you haven't completed a loan application, start there.   

Designed this with a pencil and paper trying to utilize space, simplicity, square footage, and appeal.

With less competition, if you have good theming and design then it'll be easier to charge a higher nightly rate and keep your property full which will make it more profitable.

I'm a hard asset type of guy, so bear with me here, I understand the foreclosure process, done a ton of those, so arrears and payoffs and legal fees etc, I get.Loan modifications, I've helped a lot people get those.

How was the whole process?

Or, you can call your local credit union and they will likely either have an application to fill out or start asking you questions, and they should guide the whole process from there.