My vision includes developing the land into a destination with features like driveways, walking paths, utilities, and unique lodging structures.Here’s my tentative plan1.Place the existing STR in an LLC2.Apply for an SBA small business loan to fund the next steps, including a feasibility study (~$10k+), land clearing, and infrastructure development.While this direction excites me, I’m torn between pursuing this venture and continuing with a more traditional approach—buying one home per year using conventional loans.I’d love to hear your thoughts:•Has anyone transitioned from STRs to glamping or similar ventures?

Would like to do owner occ conventional with 5% down but don’t think we will qualify.

This pretty much wipes out any conventional lender. 

Exhaust all of your conventional or government financing options before you get into DSCR. 

I would just start out by meeting with bankers, telling them your goals and mentioning some of the ideas you had(FHA vs conventional) and ask for their advice.

By using time as a key asset, we can ensure that:Properties remain affordable and community-focused.Tenants have access to education and workforce opportunities.Investors receive steady returns without destabilizing the market.To Summarize:This project isn’t conventional, and I don’t expect everyone to immediately align with the vision.

The investors that I have worked with in the past have found units from SFR to quads that are ready to close with conventional financing.Connect with me for any specific questions.Best of luck.

I know the cost associated with a DSCR is much higher than with a Conventional loan but the commercial zoning may be problematic for Conventional.

As far as refinancing, you can either do a conventional loan where they use your debt to income / DTI to qualify or you can use a DSCR loan which structures the loan off of the rent versus income ratio.More info on DSCR loans: DSCR loans won't use your income to underwrite the loan. 

But when applying for a new conventional loan, it still has to be counted.