DTI ratio problem while trying to get my first deal.

[Eric Charles]

I'm a newbie, just starting out and trying to get a loan for my first deal, a single family.  

I have a large cash, equity and asset base, (6 figures). However, I show VERY low taxable income due to business expenses and deductions.  

I have over 50% equity in an 800K primary residence, but as lenders are looking at my DTI, things seem distorted by the low income on tax returns, and I'm being told there is no way I can qualify for a 30yr fixed. The best I'm being offered is in house 5 year ARM, 20yr amortization. Is this the reality in lending out there today? Any advice?

Thanks