What to do when an HOA has a high rental to owner-occupied ratio

[Jeff Morrison]

I am a new investor in the North West suburbs of Chicago, and I currently own 1 rental condo in Schaumburg, which I purchased cash (about 1/2 from my savings and the rest from a 401k loan).  After 6 months of owning it and being rented for 4 months, I refinanced it into a traditional loan with the bank and paid my 401k loan back.  The complex only has about 35% of the units as rentals, but the prices have gone up over the last year, especially in the complex I own in.  The problem I am having lately, is I am ready to buy another, but most of the complexes I have found that allow rentals, their ratios are much higher than 51%, which is the max any bank I can find will allow.  Does anyone know of any banks that will lend on a high rental occupancy condo complex?  Thanks for any help!!

[Upen Patel]