Where can I refinance a desirable rental property (waterfront) with an 80% loan to value today?

That's the problem with rental properties, bank simply want to see that 25% equity cushion. I would look in your local newspaper, as many papers in their weekend editions feature a real estate section with advertisements from banks with their terms for owner and non-owner occupied properties.

Another option is to call a local mortgage broker/banker as they have a better idea on where to get those 80% non-owner occupied loans on rental properties. And the last thing is to see if you can get a 5% higher real estate appraisal.

The problem here is that it is an investment property, and I do not know of any lenders offering investment loans without 75% LTV. It is just the nature of the lending markets. Perhaps you could ask the folks that are turning you down to recommend someone to try.

call Obama..maybe he knows.

last i knew no one wants it..

*sorry, it sounds nice.. really. as a matter of fact, i bet it is super dynamite.