Blanket Loan vs 5 Conventional Mortgages

[Mike V.]

I'm looking to purchase 5 new units in a short period of time. 

My question is: Is it better to take 5 individual mortgages, one for each property or a blanket loan?

Background:  These would be short term vacation rentals.  Each cost roughly 200-350k.  Will probably end up landing around 1.25m-1.5m total cost.

Conventional mortgage Pros:

     30 year fixed, traditional 20% down, best interest rate 

Conventional mortgage Cons:

     5 new sets of payments, 5 sets of closing costs, 5 times going through the conventional process (sounds painful), will use my last 5 conventional loans avail (at 5 currently)

Blanket Loan Pros:

      Simplicity; 1 payment, 1 loan app and process

Blanket Loan Cons:

      10 year term, 2-3% higher rate, 25-30% down

The properties will cash flow either way and I don't need the cash flow immediately. It's a long term play. I'm leaning towards the blanket loan, but wanted the opinion of others to see if theres anything i'm missing or not thinking of.  

Appreciate your thoughts!