my girlfriend is a mortgage banker who handles mostly cash-out/refis and she has some info for you..

& understand local market. license requirement. some states require you to carry a license to collect rent. 5) Some local banks are lending to foreigners, you have to establish relationship with the banker, usually will lend with 50% equity.

I know several of the other Atlanta BP Big Hitters use them as well.Next up would be Hamilton State....IF you deal with the folks in the South Canton Branch.A close third would be Bank of North Georgia, also very construction friendly.No matter which BANK you bank with, it's ALL about relationships with the BANKERS,  make sure you go IN your bank as MUCH as possible so they learn who you are and what you do.  

Unless your banker is able to move very quickly of course....

I talked to a banker last summer who could offer that same deal, although they were only willing to lend to the lower of appraised price or purchase+rehab costs. 

Once people see that the only answers bankers have is to print more money and the only answers politicians have is to spend more money.

It is hard to impress a tenant or new employer or banker rolling up on a schwinn or taking the bus.

E keep very good documentation about the money movements though, and maybe even use same bank/banker), and your main fear of loosing your "home" will be gone, try to payoff the line of credit on the main residence as soon as possible.

I am a mortgage banker.. have been for many years..

My banker has been at the bank 20'Years.