NJ Hotel/Motel Lender

[Jenna Olivieri]

A little about me.... I currently house hack my own home after converting it from a 3 bedroom to a 4 bedroom and I previously owned a rental condo. I have been a property manager for apartments and HOAs for 5 years and I have worked in hotels for 3 summers in college. I am a residential realtor in NJ & PA. I just turned 30 this year and I am ready to continue to grow my portfolio. 

 I have found a portfolio for sale including a seasonal hotel, 6 rental units, 50 x 100 vacant lot across 4 lots (3.9 mil) or (2.9 mil for the 21 unit motel only). I have $80-90k of equity in my ~$290k home in Philadelphia. I am a realtor so I would receive the commission for this sale. I also have my father who may help co-sign or minor financial assistance. My future plans for this portfolio is to create a seasonal job for myself by running the motel while living there, managing the properties and rent out my Philadelphia home covering my full mortgage payment.

Has anyone here bought a seasonal motel that I could speak to and go over the steps you took including inspections and budget review?

Do you have a NJ lender to recommend for the entire portfolio or just the motel with low money down?

Would a 3% No PMI loan or 5% down loan be the direction to go in? Or go the SBA loan route? I am also going to ask about the possibility of seller financing by writing a letter to the owner.

I appreciate any and all info given to me. I also posted this on the Facebook group. Thank you.