Alternatives to cash out refi?

[Melanie Siegel]

I'm trying to do a cash out refi on one of my rentals in Nevada so that I can reinvest the money, but I'm having a hard time qualifying. We have great credit, but because we were not planning on this refi earlier this year during tax season, we wrote off everything under the sun. The income is keeping us from qualifying. I've called four lenders and have received the same answer. I'm very new to real estate investing; do I have any options? Someone suggested amending the tax return, but one of the lenders said they would look at both returns and it could be an issue still. I do not want to sell the property or pay a higher interest rate than the current loan at 4.75. Thanks for any advice!

[Brent Coombs]

@Chad Olsen, my main point was: even if borrowing 100% (LOC as deposit, plus normal mortgage), "good deals" should still show a positive return! Otherwise, look elsewhere. Cheers...