Depending on the type of commercial you want to get into my suggestion is to go work for a company that does commercial real estate as learning from people who do it and getting paid at the same time is not a bad strategy 

But if you can find the property which can qualify as rural, then you can finance.As an example, farm labor housing is multifamily and there are specific programs inside the USDA portfolio which target those types of properties.

Just go talk to more sellers and find one that has the same type of property and condition as this one that is motivated to sell it to you for a number you want it for compared to comps. 

It is very simple and cheaper to set up the LLC in NJ vs NY ($50 vs $200 when going on the state website) what is still an open question is I also need an operating agreement for the LLC once set up, wondering if that is also free as part of just getting the LLC set up on the state website or if I need to use a lawyer or a legalzoom type of service to do that.

Curious how someone with a bit of real estate experience would handle this type of situation.

You really need a business or a commercial asset in my opinion - contractor bays, oil change type centers -something that everyone uses.

What made you interested in investing in this type of deal?

To be clear, a fund has multiple type of assets in various locations with various strategies.

Less oversupply with that product type and more renters that were renting the more expensive bigger cabins are choosing the lesser ones because they love the area but don't want to spend as much on rent.We've talked with several long time investors out there and there isn't a one that have held on to their cabins over time that aren't still adding more. 

Of course unless your buying defaulted notes at the get go then again as Chris mentioned this type of fee should be handled up front.. and if it new origination your making and then they go bad.. in your foreclosures you can charge the borrower these fee's when they cure or add it to you opening bid and when someone buys it at the court house you get repaid..