Need MI Condotel Financing help/recommendations!

[Brandon Beaudoin]

Good morning, BP!

In a bit of a bind here and looking for VERY fast feedback/recommendations from the community.  And FAST!

We have purchased 2x short term rental properties 2nd half of this year in great overnight markets (Destin, FL area and Smoky Mountains) that have done very well. We are on contract for another great condo property in a great STR market in Traverse City, MI and I've run into a financing wall.

I can not for the life of me find a lender that will consider our current rents for our 2x short term rentals so our DTI is too high to be considered despite great credit, high income, proof of rental income success, and the fact this is a portfolio loan.

I desperately need recommendations on portfolio lenders that will:

- accept 20% down payment for a condotel/portfolio loan (or any loan product, really )

- lend to Out of State investors

- consider STR income not on W-2 or properties with long term leases

- can close in 30-40 days (absolute max)

I've tried at least 10 different lenders in Traverse City and around in MI as far as Detroit.  All no go.  I do NOT want this property to slip away (already fell out of contract once)

Any recommendations or thoughts?

Thanks in advance!