Awesome Deal (See Numbers) Stalled by Financing - What Next?

[Ericka G.]

Last year, I stumbled upon a really solid niche investment opportunity - airline crashpads - and am on the cusp of closing a great deal BUT was turned down by my bank for the financing. This would be my 3rd deal in this niche area of landlording, 5th deal overall...my husband and I have the cash to buy outright but that would wipe out our liquid savings, which I don't want to do.  

Based on the numbers below: 1. Do you agree that this is a great investment? 2. Do you think my best bet is to go to a bank or seek a private loan, etc? 3. How best to present myself (recently self-employed) to get the funds? I pitched the idea to my family and they totally shot us down, plus they have no money (lol), so I'm feeling stalled after the bank rejection due to my employment status. I already have 2 mortgages in my name from previous deals (when I had a 9-5) and hubby has 1, a VA loan, which from our understanding might be jeopardized if he got another home in his name? We both have stellar credit, but debt to income is wonky with all the recent real estate.

Pls help, I feel like I'm sitting on a gold mine but can't figure out how to get to the gold...

PROPOSED Deal #3: 4/1.5 SFR in suburb of Detroit 

Acquisition cost (including rehab): $55000*

Current estimated value: $90000

Gross Rent: $24240 (rather high due to the crashpad niche)
Vacancy (5%): $1212

Expenses +Capex: $6480

NOI: $16548
Annual Debt Service: $3850

Annual Cash Flow: $12698

Cap rate: 30%

*This is a pocket listing/not on market.  Negotiated this price with the seller before market heated up, may lose the deal if he realizes how much prices have increased or decides to break his word.  

Below are the numbers we've seen on our last two deals in this same area.  We have a solid network of local contractors, know this niche and area really well now, and have a waiting list 6-deep of pilots/flight attendants who want into our next property.  

Deal #1: 3/1 SFR in suburb of Detroit
Acquisition (including rehab): $57000
Current estimated value: $68000

Down payment: $0 – VA Loan
Gross Rent: $18960
Vacancy (5%): $948
Expenses (including annual debt service) +Capex: $9398

NOI: $8614
Annual Cash Flow: $8616

Cap rate: 15%

Deal #2: 3/1 SFR in suburb of Detroit

Acquisition (including rehab): $40369 - purchased all cash

Current estimated value: $61000

Gross Rent: $18240
Vacancy (5%): $912

Expenses +Capex: $5820

NOI: $11508
Annual Debt Service: $0

Annual Cash Flow: $11508

Cap rate: 28.5%