Short term rental refinancing

[Garrett Pettit]

I need advice. If I were to take out a private money loan for a high performing short term rental triplex, of which I'd live in the poor studio unit and rent out the other multi bedroom units, and then decide to refinance to a lower interest bank loan within a year or two, what are some risks and problems I should be aware of? Do bank refinances consider short term rental income? How does this affect taxes? Pros and cons? I've never done this before so I'd really appreciate some advice.