Self Employed trying to get a HELOC

[Aundre Oldacre]

Hi all-

I'm a self-employed media professional that switched to a full-time real estate investor over the past year. I use the BRRRR strategy and did a full gut renovation last year on a 3 family in Yonkers, NY. I spent 200K on the renovation along with buying a truck for my media business. The property is now cash flow positive $2700/mo but most banks need 2 years rental history on tax returns to count the income. So the mortgage is counting against my debt/income but the rent isn't. I have a HELOC of 500K on my primary and trying to pull out another 500K. The LTV and credit scores are fine as the property is worth 2.1M but I keep getting denied or counter-offered. My best offer so far is to pay off the 500K and receive an additional 190K. I'm looking to get the full 500K as I have a great deal I'm looking to purchase. Any suggestions on banks in NYC that can qualify my rental income and see that the gut renovation from last year was a one-time expense?