Lenders specialized in Short Term Rental

[Nikolay Grozev]

Hello everyone,

I recently (a year ago), bought a cabin in the mountains near LA. The house has a lot of potential but also needs a lot of work, and we plan to do a full renovation. I do have the capital to fund everything myself, but would rather keep a decent amount of cash reserves, especially considering the questionable outlook of the economy, so getting a loan makes the most sense at this point. The problem is that the house already appreciated a bit, but we do not have that much equity in it yet, and with the current rates it doesn't make sense to refinance (my mortgage is at 3.25%). I might be able to borrow some money by using lenders specialized in refinancing, but it might be just a fraction of what I would need, and I'm hoping the fund at least 50% of the work or more. 

My question is, do you know of any lenders that are specialized or have products specifically for short-term rental investors, where they evaluate the potential of the property based on location and average returns and do not require the equity of the house to be sufficient collateral for the loan. 
I also have my own business and will be able to show consistent revenue, but like many small business owners, my tax returns would not qualify me for the amount that I plan on spending. 
Another option would be to apply with a smaller bank in the Riverside/San Bernardino area, so this type of recommendations are also welcome. 

Thanks in advance. 

[John Underwood]

If you don't have much equity then a refi doesn't make sense, plus you are going to be paying a much higher interest rate.

I would say using an equity line would be better but once again you don't have enough equity.

[Nikolay Grozev]

Quote from @John Underwood:

If you don't have much equity then a refi doesn't make sense, plus you are going to be paying a much higher interest rate.

I would say using an equity line would be better but once again you don't have enough equity.

Thanks, John. Yes, conventional refinancing sounds the least favorable, and the equity line is also not ideal. 

After I asked the question here, I did some research, and it looks like there are lenders specialized in STR-related loans, that are often times based on anticipated returns, etc. Basically, treat it like investing in a business. 
I'll share my progress here, but meanwhile, I'm still open to suggestions and recommendations. 

[Issac San Miguel]

It would be possible to put it on a bridge loan with a rehab holdback - the equity would determine the out of pocket - of course - that would be a short term loan and come with a *much* higher rate.