Refinance Strategy for rentals

[Mark Charles]

I am considering buying a couple properties from someone who is "getting out of the game" and I am not going the conventional mortgage way meaning higher interest. The math still works out and I make a little when considering the 50% plus mortgage rule. What I am wondering is.

1. If I have a couple properties when refinancing into a more conventional package to encompass all properties. Would the bank need Property Appraisals for all the properties. What if i already have tenants in them?