Tight loan approval periods: Many lenders set a standard for 21-25 days to get your final loan approval approved by the underwriter.

I saw this multi-purpose commercial property,  6000 SF warehouse space, 2500SF for retail office, 3000 SF former restaurant. with 2 - studio and 2 - 1 bedroom apartment on 2nd floor, Selling for 550K, it was bought by the ower in 2018 for 340K.

From what I can tell from the plans thus far, there will be limited "green space" or "communal areas" (the developer committed to "total green space equal to 1/2 of a soccer field") which I suspect will drive foot traffic to the local residential neighborhood. 

I reconfigured the floor plan to open up the space and added a bathroom.

Being a broker in this space, the lenders offering 30 year terms (true 30) are non-bank, non-depository, usually backed by some type of hedge/debt fund or other type of institution. 

Probably don't get that money back if you do that and previous owner redeems.If the barn is in good shape, maybe you can rent that space month to month for the next two years and at least get some income.   

I would find a lender that lends in that space.

What would you do with the RV space if it wasnt getting rented out?

The idea is to do some rehab to either section off part of the house or build out a room to airbnb (also planning to start a family this year so didn't want someone going in and out of our living space).Either we can build up equity in that property to refi into a multifamliy home or get creative for the second property which would be strickly a rental.

The US Naval Academy Alumni sold this portfolio of 3 properties with combined 12,000 sf. of space, it will be converted to a boutique historic inn that will have 20 suites.