Would welcome comments and suggestions, as I have no experience working on commercial mortgages.Is help available from any consultants who has idea of exactly how the process works with banks for commercial loans in the area of Greater Springfield, MA and help me learn what are the options for lower rates and extended terms of financing such property and what will the banks be looking at. 

Giving me the opportunity to either extend my deadline or pull out immediately if I just cannot wait; but they know I will probably wait since it's just business.

No idea beyond that but I do know my extended family would book through this kind of stuff when we'd stay in outer banks, NC, among other places.....

When you get a contract on the first try to extend the closing date on it as far as possible or even sell with a contingency to get the others under contract.   

I am overseas now for an extended period of time and I guess that means I have no primary residence.

@Nathan G. and @Bjorik Mutize here are some details:The property consists of an old, very large (~5,200 sqft) house that is split into five apartments and a garage apartment, for a total of six unitsPurchase price of $478,500 with $51,500 in seller credits (we started at $488,500, but renegotiated after finding knob and tube wiring and other issues during inspection)$565,000 appraised valueCurrent gross rents ~$6,000/mo (with a little room for improvement once repairs are made) plus revenue from onsite coin laundryCash on cash return will depend on how/when we decide to make improvements to the property (see below), but at least 10-12% in year oneFinanced with a commercial loan (80% of purchase price, 20-yr am at 5.5% on a 5-year lock), but the kicker is that the bank let me apply the seller credits toward the down paymentOh, and to help out with cashflow while making repairs, the bank hooked me up with 6 months of interest only financing as a nice surprise at closing - it definitely pays to develop relationshipsThe remainder of the cash to close was provided by a silent partner in exchange for 50% ownershipThe bank has offered to extend me a line of credit secured by the equity to perform improvements. 

We rent fully furnished apartments for extended stay visitors who are in town for anywhere from 3 months to 9 months.

BUT if you are in a financial position to support the property and look at it from a long term perspective, you should be getting annual tax benefits and the property should theoretically appreciate over an extended period of time.

Ideally I would be renting out apartments and turning them into short term airbnb and extended stays for traveling business professionals. 

Was asking beyond that  It doesn't extend beyond that, unless something unique was written into the lease.