Blanket mortgage and blanket insurance?

[Dave Versch]

Hi all,

I'm under contract for a 2-family house. Purchase price is 26.5K. I'm looking to purchase one or two other similar properties in the same price range, in the same city. I'm considering paying cash for the properties, and then doing a cash out refi with a blanket mortgage to cover them all. Planning to buy and hold for several years. But I have a couple of questions.

1) Is this idea feasible, or am I way off base here?
2) How difficult would it be to sell one of the properties and hang on to the rest in the future?
3) I plan on holding title as an LLC (same LLC for all properties). Will this be as big a problem when doing a blanket mortgage as it is when doing conventional?
4) What's a typical current rate for a blanket mortgage, figuring 75-100K, 30 yr fixed?
5) Do I need to do blanket insurance as well if I want to do a blanket mortgage, or can I insure individually?
6) What are the major advantages/disadvantages to both blanket mortgage and blanket insurance?