I would suggest doing these separately however since you will run into issues with a partial release clause on a blanket loan.

Also, if it's Lennar, be prepared for problems, insulation issues and therefore paper thin walls. 

The only issue appears to be the missing breakers and it being turned off by the bank.

@Craig Oram this is a common issue.

Obey TorahBest, Larry Cheshier That’s interesting Larry but the issue becomes interest rates to borrow the money wouldn’t make this a valid choice.

The issues can be local so look for someone in your area who is posting and try to contact.   

We have become good at it, by simply issue a 3 day letter to pay rent or quit.

Shayan,Best option to avoid issues and stay risk free along with having a better approval chance would be to go with a Cash out refinance.

We are good friends but that's also not an issue for them because they are a dual veteran couple.

I've asked my clients a similar question and have developed tools for them to minimize this, but I find there are a few different types of clients.Manager managed - these folks have no issues as they simply upload their year end statement from their property manager, their 1098 mortgage statement and any other one-off expenses they may have paid for outside of the management company.