In addition to cutting down on all the questions that guest invariably ask check out hostfully.com for their digital guidebooks.

I am starting to look at bigger properties and am always concerned that if I start doing extensive work and pull permits they are going to come in and tell me I need to spend 20k on sprinklers.

. - Find out if there are any prepayment penalties on your loan, and if there are extensions available. 9-12 mo's is a fairly typical term length for this kind of loan, and some lenders offer extensions for a fee.- Find out if interest is charged on amounts funded, or on the total loan amount from the get-go.

Yes the reason it cannot stay is zoning as well as space, the lot is timberland and very sloped, there is very little space on the currently buildable area of the land, and the other flat parts of the land are hard to access without some extensive road development first. 

@Jennifer GreuelI would get an extension today.

I renovated it pretty extensively.

Norfolk,Portsmouth,And Suffolk are areas I am researching extensively and i am very interested in learning more about .

Do you have extensive construction experience?

At that time, offer a full lease extension (might even be able to push the rent up a bit, but I'd focus primarily on getting yourself back on-season and then get a lengthier/standard 1-year lease signed.

Termination 'fees' are generally limited to what you have in hand...especially without proof of extensive property damage done by the tenant forcing you to keep the property off the market while you spend time and money to make it market ready.