However right now even the highest rates we can offer you for an investment are still carrying points. 

Now you’re carrying a huge debt that is solely reliant upon STR business.I would sell it and take the cash to buy multiple SFR's or 2-4 unit multifamily rentals and spread my equity to more REI's (without an HOA).

These loans generally carry a higher interest rate than first-position mortgages because they are more risky for the lender in the event of a default since they are the second party to get paid in the event of a liquidation. 

--> Crowd Pleasing Standout Outdoor Amenities🏀 Sports Court - Pickleball & Basketball⛳️ Putting Green🔥 Fire Pits🔹 Hot Tub👨‍👩‍👧‍👦 Multiple Seating Areas🏓 Corn Hole & Ping Pong💧 Heated Pool🍔 Built-in Grill🖼️ Outdoor Mural--> Crowd Pleasing Indoor Amenities & Design🔹 Blockbuster Movie Themed Bedrooms & Design Carried Throughout the House🔹 Converted Garage Space Into a Pool Table Game Room🔹 Poker Room🔹 Themed MuralKey Takeaways to Drive Revenue for Your STR🔸Know Your Guest or Avatar and Design for That: Don't be afraid to go all-in on a theme that resonates with your target audience.

You still have to run comps on everything, determine construction costs & estimate ARV, carry & commission costs, etc to make sure that deal in that market makes sense.To do that last portion better, I use Sales Comps and drilled-down market stats. 

I have an option to take over owner carried financing of the building  that the previous owner has set up with the owner before them.

For the purchase of the new property, you can consider a seller carry offer (balance of purchase price minus the down payment) or obtain a new mortgage on the commercial/resort. 

Yes, the interest rates are higher, but they are to be carried over a short term - 1 to 2 years max, and you'd be making interest only payments, which will allow to keep payments lower while the property starts making income for a refinance or gets sold as a flip. 

Drafted a plan, gathered estimates, created a budget, put together DTI sheets, even got an "as-built" appraisal, and also have it in a permit status at the Local Building and safety office.Then I started to look into the construction loan and the permanent financing....to do it myself, and not through a builder.I soon realized that there are sooo many companies out there that want to try to help...but cant  (some of them were even on this network of people):  don't have builds on record, won't allow for owner-built homes, my credit is less than 680, while carrying the construction loan, there may be a point at the end where because i have my rental house while building that it become hard to pay, and  I can't pull out a private loan to help start process because my credit cards balances are horrible...and my "business" has no show of income.So, now we are here in the present time....   

If you do it as a second home, you could do less, but then have to carry PMI.