Is there a way to run masternode on VPS and use it's cold control wallet for staking?
Yes, and if you join our Discord here:
https://discord.gg/9HxzArG and go to the Neutron-Resources channel you will find all the info you need to do pretty much everything.
Also we have full time tech support in Discord, there is always someone to help..,
Message @Oicu8 on discord if you need help.