I was diagnosed with Bipolar Disorder 20 yrs ago. First symptoms at age 13, not diagnosed until I was 30...
Oddly enough, my point of view does not come from having a mental illness myself, but from having my father die of colon cancer four years ago.
When we first got the diagnosis we all prayed for a cure - for something that would make this Stage IV cancer disappear. He did chemo, radiation, clinical trials.
Over time our prayers - to keep him with us - slowly changed.
We found ourselves praying that he would feel no pain. That he would be at peace.
One of those two prayers were answered - and we were truly greatful even tho I would give anything to have another hug from him.
If your son's condition is as you describe, and if his doctor's have explored all the avenues, perhaps the answer to your wish ("We are willing to do anything it takes to make things better for him and hopefully us as well.") may well BE residential care.
Probably less stressful for him, and you would be a more rested and loving family when you visit or have him home for weekends occasionally.
You're thinking you would be a "bad mother" if you "gave up" on your son, right?
I am not a bad daughter, and I did not give up on my Dad - Cancer that has spread from colon to liver to bone to lung to brain doesn't CARE how "good a daughter" I am. Neither does severe (and I do mean Severe as in your son's case) Mental Illness.
Explore possibilities, get 2nd opinions - but a decision to put your son into residential care has NOTHING to do with how "good a job" you are doing. Maybe what's best for him IS this change?
Hang in there. Sometimes loving someone means doing the things that are Best for them even though they are not things we would choose if there were any other options.
Ruth