Refinancing fully owned rental properties

[Ben Bakhshi]

My dad owns 5 rental properties free and clear.
He is looking to get cash out of them in order to purchase more properties.
Main problem is: he did not earn income with w-2 for 2012, sort of an aberration, which is a bummer, but its history. He does have steady income from rental properties that he owns outright, and also from dividends of his business equity.
Also, he is currently has about 8 properties with mortgages or HELOCs on them.

Ideally he could get a 30 year fixed, and secondary goal would be a HELOC, on each of the 5 rental properties.

It seems like he will need to attempt to qualify for financing based on the merits of each individual property.
Are there any banks that will lend based on the merits of an individual property alone? I'm guessing they will want to look at his overall debt to income ratio, but maybe I am wrong.

Prop #1 - Est. Value $115,000, Rented for $1500
Prop #2 - Est. Value $82,500, Rented for $900
Prop #3 - Est. Value $65,000, Rented for $975
Prop #4 - Est. Value $50,000, Rented for $900
Prop #5 - Est. Value $35,000, Rented for $600

I know banks will qualify 75% of rents. And are looking for debt to income of 40% max. That means that he can make debt/mortgage payments of basically 30% of the rent.

Any recommendations of straight shooting banks that can turn around loans like these quickly?