The existing buildings need some maintenance and repairs, and I will be required to add some utilities and make modifications to the existing ones.I'm the sole owner of the property, it is debt free, I estimate the cost of the project to be no more than 15% of the county's appraised value of the property, and I'm looking for the best way to finance the project.All feedback is appreciated!

If you're in escrow and owner can't produce a lease / tenant, require the modification of getting Estopples. 

Are there any modifications to the written lease?

Hello,You can try a 75/10/15 structure (or modification).

No modification to this document or indulgence by any holder hereof shall be binding unless changed by an agreement in writing signed by both the Borrower(s) and the Lender. 

It is sad but it seems that these people had no idea what they were really agreeing to when they signed the modification.

In my area it requires a Conditional Use Permit which is subject to a public hearing and also the local Building Dept gets into the act as well and can require the hotel be mofified for its' new use which can kill the deal if the modifications are too expensive.

Make sure every bedroom has sufficient square feet, closets and fire egress offering two escape routes (window outside and door).As far as appraisal, odds are good that the modifications will reduce value.

I know there might be some modifications to be made… but it would be great to have one to share.

If the COA allows it, fine, since you're altering common elements with the sewer line modifications.