Blanket Loan advice on 9 properties

[Ben S.]

Hello Everyone: 

We have 9 Properties in Los Angeles, CA where the total value - (Estimated here - not appraised value) is around $40 million. 

We have outstanding debt of $10.635.000 and they are all with different banks. mix of multifamily, commercial, and single family. 

Now I want to get a blanket loan to put everything under one loan... 1 payment to 1 bank.. and take out Equity to make a couple large moves... now -does anyone have experience with a blanket loan and would they recommend this?  pros/cons ? can i pull out 60% equity cash out from the total appraised Value? this would make for a nice amount of cash in hand....

Do i need to pay all appraisals upfront? or is there a way to get the appraisal costs from the closing end from the loan to limit my initial out of pocket expense... 

thanks in advance. 

[Alex J.]

@Nick D.

i am interested as well