Cash out/refi on Multi Family w a Short Term Rental
Wondering if anyone has had a successful cashout/refi on a multi-family property with a short term rental. We haven't found too much information on how/if income from that unit is considered or calculated or how loan is underwritten. Property is in Chicago/Cook county with legal city license. Any investors with this experience either positive or negative? Any appraisers, loan officers or mortgage brokers with insights? Posting in STR, Chicago and Illinois forums hoping to get as much information as possible to make a plan for 2019.
Thanks for reading and for any insights!