Refinance on a Residential Assisted Living

[Shahrouz S.]

I have a renovated house in Arizona suited for residential assisted living (RAL). I was told I cannot do a conventional CASH OUT refinance once I lease it to an operator of RAL since lenders do not lend if you run a business in your house. Is this correct? If yes, what are alternative methods to tap into its real estate equity after signing a multi-year lease with an operator? 

[Jay Hurst]

Quote from @Shahrouz S.:

I have a renovated house in Arizona suited for residential assisted living (RAL). I was told I cannot do a conventional CASH OUT refinance once I lease it to an operator of RAL since lenders do not lend if you run a business in your house. Is this correct? If yes, what are alternative methods to tap into its real estate equity after signing a multi-year lease with an operator? 

 I actually do not think that is true:

https://selling-guide.fanniemae.com/Selling-Guide/Originatio...