If you go out of state, make sure you have a strong agent/team that you trust...this is likely a relationship built over time, so be patient.

I am thinking a simple family trust or llc will do it without SEC regulations and all the over sight a 506 has..

You've learned a valuable lesson, trust but, verify.

Send me a message with your email address I’ll help you out

In addition, they want and need answers to their questions in a timely manner, not some e-mail address to send to that will get back to them in 24 to 48 hours!

Best thing for you to do is contact 2 Mortgage Brokers in the area, complete 2 FULL loan applications, just write TBD in the subject property address and allow a FULL tri-merged Mortgage Credit Report pulled. 

In addition, they want and need answers to their questions in a timely manner, not some e-mail address to send to that will get back to them in 24 to 48 hours!

For example, I manage receipts for my current AirBnB unit by creating a separate email address specifically for this purpose. 

I need some one who I can trust that will come to work and do a good job... which makes me think, if the contractor builds something and the inspector say's its wrong... does the contractor get monetarily punished ?

I personally would not co-sign or co-borrow with anyone, other than my wife, without a legal binding agreement addressing default or dissolution of the partnership.