Seeking 75%+ cash out DSCR refi (from non-traditional lender?)

[Sam Burnoski]

I have a 4 unit in a bridge/rehab loan that I need to refinance. The property is in IL. The property numbers are excellent. I am a very experienced real estate investor and house flipper.

I'm having a hard time finding a lender that doesn't have crazy terms and requirements that will do a 75% DSCR cash out.

It's frustrating because I have the perfect lender for this scenario in WI, but they don't lend on IL properties. I know there has got to be other options out there than what I have found so far.

Maybe there is a bank, credit union, or a private lender that will hold the loan on their own books? 

[Steve Vaughan]

Quote from @Sam Burnoski:

I need a lender that doesn't have crazy terms and requirements that will do a 75% DSCR cash out.

 Most lenders flinch at cash out but will be fine with rate/term. 

As part of an asset protection strategy and potential refi getting cash without the 'cash out' triggers, I self-encumbered with a mortgage to one of my entites.

My strategy has been bashed as most likely not being able to survive a lenders sniff test. I used my generic sounding  s-corp, executed a note and recorded a mortgage/deed of trust.

The primary reason was to appear encumbered, secondary to get sweet rate/term refi with quiet cash out if needed.