Retreat center business model: Best financing options to scale

[Belinda Liu]

Curious if anyone here has grown a retreat center network/franchise for spaces that accommodate around 30 people on 10+ acres. I built my first one in Mount Shasta, California and am looking at growing it to 8 sites all over the world. The next one will be on Big Island, Hawaii (south Kona). The place has been identified and owner is finally ready to sell.
Curious how you would think about financing the next few locations.
First thought: Cash out refinance of first place and then use to purchase the second one?  orDSCR? 

Our first retreat center is profitable so it feels ready for scale.