The lender and brand will require experience when buying or building a hotel asset.  

For $40k, I'd go private money.

From my experience, most lenders are offering the same APR's.

Some private companies have tried to create MLS in other countries (like HipFlat in Thailand and Dot Property Group in some SE Asian Countries, Cabo has somewhat of MLS system thru Point2 I believe, but all not quite like here. 

Every lender is going to probably have a different opinion on this. 

My goal is to convert it to an 1100 sqft second house (which it looks like anyway until you realize 70% of the square footage is garage space).It will have it's own private driveway, car port, and a fenced yard to separate it from our part of the property.Our goal is to create a mid term rental for traveling nurses. 

I just researched and found out you'd have to put down a 40-50% downpayment using non-recourse lender.

I'd recommend working with a lender to see what the best balance is for you.

I'm a local investor, real estate broker, mortgage broker, hard money lender.

Specialized Lending InstitutionsLook for lenders that specialize in renovation or construction loans.