How to refi a rental without a W-2 type of job?

[Larry K.]

As I have heard, traditional lenders (banks, S&L's) want you have a W2 to refi a rental (ie long term 30 years, 75 LTV, 5% at this point in time).

What are your options if your employment situation changes? There would still be income just not fully employed by one company. More like consultancy where there would still be documented income. Would a traditional lender still be OK with this or would I have to find some other way?

Thanks!