Looking for Cash Out Refinance for homes under $50,000

[Erich S.]

We have about 70 rental homes owned outright generating income that would appraise below $50,000, which companies like B2R and Colony American won't refinance. Any ideas for who would do a cash out refinance on these homes? I understand they don't make much money on homes under $50,000, but maybe the bulk of the portfolio might get someone interested?

A common home is worth $41,000 and brings in $10,200 in yearly rent income.