looking to purchase a STR but need a lender that will finance

[Scott Mackinnon]

I`m selling a 31 unit apartment bldg. and looking to do a 1031 exchange and have been looking at investing in STR but can`t find a lender that will let you use the short term rental income to qualify. The banks I`ve talked to want to see a long term lease agreement to be able to use the income. The property I`m interested in is at the beach and would be the perfect property for a STR. It has 3 single family homes on 1 lot.

I guess I could always buy it with long term leases in place and turn it into a short term rental afterwards but I was wondering if anyone  has had any luck or found any other ways to finance without going through a traditional lender or getting a short term loan with a balloon payment from a community bank.