Considering purchase of 13 cottages to renovate and rent as STR ?

[David Landsman]

We are considering the purchase of 13 cottages on a 3 acre lot in a primarily summer vacation mountain area..

Being somewhat new to this (STR investing), I'm looking for any and all help, advice. mentors or critiques..

1) Financing:  I seem to be hitting a wall with conventional lenders because of the uniqueness of the property and the fact that all the cottages need lots of work and haven't been rented in a couple years.

I'm about to sell a house which will net us about $300K  and I own a commercial property which I wasn't really ready to sell but might in order to purchase this unique property..

Asking price is $500K and renovations should run about $250K 

Any and all suggestions, help would be appreciated...