Next Step...

[Josh Sterling]

Hi All,
New to this forum, but there seems to be a lot of great info on here, just what I've been looking for.

I've been investing in real estate for about 2 years now. I formed a LLC and we are up to 7 properties in Southeast Michigan. Along the way we've been able to get creative and scrape together cash, and we own 5 of the properties free & clear.
The problem I run into every time I try to grow the business is financing. I thought it would get easier as I got more experience and owned more property free and clear but I continue to get shot down by every bank in the state.

Our typical deals(and there are lots of opportunities) are along these lines:

Purchase.....25-30k
Rehab.........10k
Rent............800-900/month
Taxes..........150/month
Insurance.....50/month

I've tried to do cash out refis on the free and clear property (because its so much easier to make offers when its all cash) but I have been unsuccessful. I have been turned down for:
-Too high DTI (disallowed much of the rental income)
-Lack of seasoning on the properties
-Too small of loan amounts
-Properties held in an LLC
-No cash out refis on investment property

We have good credit and good reserves (investment accounts)

Am I approaching this wrong by trying to do cash out Refis?
Is there an easier way to secure financing for the next deal that I am just not seeing?

I welcome any suggestions.

Thank You