Want to play a game with my buddy on MAME.

Me and my buddy want to play "The Ocean Hunter" on MAME but having a couple issues.

1. Whenever I try to load it, it tells me no daughterboard detected.
2. I don't know which controls to customize to be able to play it properly. There are so many different types.

1. Maybe it's not fully emulated yet, I'm presuming the message is coming from the rom not mame itself (booting a game with mame usually tells you what is not emulated before booting the rom)
2. Trial and error is the best way plus you can mod controls in game from the Tab menu, so you can edit controls and test on the fly

I can't give you specifics as I don't run mame nowerdays and no idea what that game is anyway

Maybe, I did use .147 64-bit.

This game is like House of The Dead but underwater. The main enemies are sharks and eels and the bosses are a Megalodon, a Kraken, and some more.

A lightgun game then

http://wiki.arcadecontrols.com/wiki/Mame_Lightgun_Setup

the above will tell you how to set ya mouse as a lightgun (P.S. don't try with a touch pad it just makes it really really hard lol)

Well Could we play on same computer, one uses keyboard/mouse and the other uses a controller?

You can both use a mouse (you do need the enable dual mouse though) I would never recommend using a keyboard for a light gun game (unless it's typing of the dead :P) by the time you get the cross hair to move to the pos the event has long gone, even if you speed it up, it's just too hard to control

You could use an analog stick controller though yeah for sure (digital controller nope it would suck too much), the setup would be exactly the same as the mouse setup but for player 2

EDIT:- that's enable multimouse to use 2 mice or mouses if you like lol