This place has great potential to be renovated into a unique, boutique motel.How do I go about forecasting financials and exploring funding? 

Do you have  background in construction, marketing, sales or financial negotiations?

We would like to own the property in an LLC so that the 4 kids can have 25% ownership each, and so 2 kids that have funds can loan $ to the LLC to facilitate the rebuild.  

However, many businesses choose to report on-time payments, late payments, purchases, loan terms, credit limits, balances owed, and significant events such as account closures or charge-offs.

It still wouldn't be enough profit to do this full time without another job.I see lots of people online who have quit their full time job and are doing Real Estate Investing only, buying new cars, being able to travel and I am wondering if this is just their "online persona", it is because of the amount of properties they have that has given them this financial/work free freedom or I need to find somewhere else that would give me a larger return.Either way I am still moving forward on my journey :) I was just curious because that would be my dream goal to not have a 9-5 and my investments give me that freedom.

The original plan was to live in one unit (as requird by the loan terms) for one year and rent out the other, then move & rent both units after the 1 year requirement (currently living with relatives).

@Malcomb StapelHere's a good starting point. https://www2.deloitte.com/us/en/pages/financial-services/articles/blockchain-in-commercial-real-estate.html

In these cities, your financial resources will go a long way enabling you to assemble a diverse multifamily portfolio and initiate a steady stream of income.

I only contributed financially and gave some design ideas.

The market here is obviously tough (and we'd like to invest here or nearby for several reasons), but we have heard about second home loans that have more favorable down payment and interest options which could increase our buying power and allow us to cast a wider net during our property search.Understably this type of product would have to pass the sniff test.