My wife and I are looking to purchase a non-owner occupied property and turning it into a high-end vacation rental. 

It'd be a $300k purchase price and likely $200k-$300k in rehab to give it what it needs to be competitive in the market and demand a high nightly rate. The returns on this investment have such potential that it'd cover even a high-interest loan, so we are trying to find a way to make it happen.

We were thinking of getting a mortgage on the property and then secure funding for the renovation, but then that only provides a second position on the property for whoever lends the rehab money. Since we can only afford a down payment on the house itself, we're not sure how to go about getting the rest of the money.

We also have a separate business with good revenue and were wondering if our other business could get a loan to help fund the rehab, but not sure if it'd be enough. We're just curious if there are any other strategies outside of raising private money to make this happen. 

Any thoughts would be greatly appreciated.