I recommend talking with an experienced broker who can help you shop multiple lenders  

Yes, you bought what seems like a good deal on paper, but in reality, you own an old apartment building in a neighborhood with poor security, possibly surrounded by long-vacant shops, streets piled with garbage, and a poorly managed community.

You could also look into regional banks or credit unions with experience in real estate development for middle-ground options.If I were you, I’d spend some time shopping around for the best rate/terms.

Sell the home to whoever your target tenant will be - modern, sleek, urban, renovated, bright/spacious; then sell the location - not whether they have a bank account or need a 7/11 - just that it is located to 'dining, entertainment, shopping, more.' 

@Chris Seveney I remember when cupcakes shops were popping up everywhere and were a big thing.Then, poof, most of them were gone!

A few things to consider when shopping for an STR on the Oregon Coast:- Geographic Restrictions: These are small, remote towns.

Shop around and find something that works for you.

If I were a decent renter shopping in that neighborhood, I would choose that brick building over yours every time. 

A shopping mecca five times bigger than Lakeline Mall, a 21st century mega-factory, an ever-growing Apple campus and a somewhat secret but sizable spot occupied by Tesla.With a population increase from 2020 to 2023 of 14.5%, Williamson County is clocking more new residents than all other counties in this fast-growing region.

Total of 5,000 seedlings, plus left overs from last year and ones we bagged and seeded ourselves.