Another development, he hasn't replied to me since this Wednesday and today sent me a text with another story apologizing for not responding and decided to send the $50 late fee (which I received).  

If my research is of any indication, the owner might be looking to turn this land into a development site for a condo.

I would recommend connecting with seasoned investors in the are to build your team and help give you some confidence on your journey. 

Many (not all) banks require six months of seasoning before they will consider a refi. 

We would definitely want to use the cottage more than 14 days a year or season.  

I'd like to be an investor/developer in the future and CRE seems like a great place to learn while you earn.

. - The lender is wanting to see either a list of improvements including receipts and lien waivers for the new appraisal of $67,000 to justify the higher price and/or they will require 6 month of seasoning.- If someone knows how to buy, appraise and refi in 30 days, please let me know how.

I'm sure more seasoned investors than myself will have more to add, but hopefully the responses below give you some clarity.1) Perhaps the reason they are rejecting you isn't truly a lack of credit history.

There is no seasoning from this property as this is a commercial loan. 

However, there are a lot of hotels looking to build in and near downtown Waco and you best believe they will start lobbying and pushing their weight around to get STRs banned or regulated as much as possible when they start moving forward with development.