Cash Out Refi with Bad DTI Score

[Kinohi Larey]

I have recently inherited a property that appraised at over 650K. This property is owned Free and clear and has no mortgage on it. It has a paying tenant in the property.

I really want to do a Cash Out Refi (around 200k) in order to purchase a rental property that will cash flow and pay off the Loan amount. 

I have great credit (over 800), however my DTI isn't great. Unfortunately I have been using the 'lower my taxes' structure with our business, so on paper my personal income is very low, which gives me a poor DTI. (I know, I know, dumb mistake. I'll be changing this business structure ASAP)

Are there any lenders who are able to do a Cash Out Refi without meeting the DTI standards, even if the rate is a little higher? I feel this would be possible, especially with the amount of Equity in the Subject property being so high in comparison to the loan amount I'm looking for.

ANY assistance would be greatly appreciated. 

Mahalo from Hawaii!