Many lenders will deduct 5% so if the maximum for the borrower's credit profile is 80% LTV, the lender will only lend 75% for a short term rental. 

Either way, it's just part of the process.I have been doing this for more than 30 years and my last four non-syndication deals that I was fully under contract on have all failed for various reasons.

I go to a meet up in San diego called private lending masters.  

I will most certainly contact the banks and see how we can work together. keep wellErol In my experience, PNC bank has been nothing but booty when it comes to any type of lending.

Banks aren't really in the business of lending to real estate investors anyway...they focus primarily on "operating entities", but they can be done.

It comes down to what your pro forma is, and what lenders are willing to lend on the property.75k per unit for 550 in rents in Dayton is probably over valued, especially if there is deferred maintenance.

@Kevin Hilton not sure which market you're looking at for your next purchase, but I have a lending partner who can do investment deals (including non-warrantable condotels) with just 15% down if it helps. 

I agree with the posts above, save money and make yourself someone people want to lend to.  35% equity with no money in your pocket isn't a good deal for a lender.  35% equity on top of a 25% down payment with 6 mo of reserves in your pocket is probably a much better deal for a lender. 

Every bank I have worked with on the lending side always requires builders risk policies.

I would rather syndicate and get half as the sponsor.