Looking for a bridge loan - what am I doing wrong??

[Benjamin Pekarek]

I'm currently looking for a bridge loan cross collateralized against five deeds, and seventeen units. The project is 88% occupied, with no delinquency. I'm asking for a 58% LTV note for 12-24 months - $500,000.00 total note, 8% I/O, with 3 pts. origination.

It's a combination refi/acquisition, I'm refi-ing my six plex for the downpayment, and using that to acquire the eleven. 

I'm a Florida licensed real estate broker that runs a property management company, I manage 207 residential units in the state of Florida - I currently own eight units, and the eleven under contract will bring me to nineteen. 

I've compiled the full prospectus showing the financial strength of my company, the current and pro-forma financials showing that the deal cash flows, and will REALLY cash flow once my renovation is complete...What am I doing wrong? 

Any advice is GREATLY appreciated - I need to close by the 31st, (provided I don't get the extension I'm asking for...) and I'm getting desperate. 

-Ben