First deal, bank passes on no-brainer; bcuz I'm a contract worker

[Mike McKnight]

Found a mis-managed self-storage facility with obvious areas for margin improvement.  Even though it stands on its own two feet now, could take margin from 20% to 40%, Debt coverage over 2.0, cap rate of 14% all on conservative estimates and good down pmt....and bank passed.  All because my own personal income is based on contract work that I do.  Never mind that I could buy my own house for more money with my own credit and same type of income.  Checked with another bank and was told I need two years of payment history before they'll touch it.  Really???

Very discouraging as I try to start out in REI....any advice?