I would be okay but probably have to come out of pocket for repairs.So if that happened AND I lost my job for an extended period of time, it would probably hurt a lot.

If I get rejected, is it worth speaking with the loan officer and seeing if they would be willing to extend me a HELOC for a lower amount than I had initially requested?

If they are not all 3 from the same seller you will have three separate deals, as mentioned before unless it is listed in the public remarks or the property has been for sale for a very extended period of time seller financing is unlikely, and many times if the seller is not seeking seller financing, you can make an offer for interest rate, terms etc.

Why lender allowed extended transactional funding.

Each piece has a 5 year extended warranty as well.

The reason I'm resisting this is because I found out that she was having other people live with her that weren't on the lease for extended time.

The unit stays vacant for an extended period of time, and you have to lower the rent to fill it again.  

He was given a longer lease for doing "Favors" which I believe was painting and cleaning his unit and maybe a few other things.But this extended lease was not disclosed during escrow. 

Review their extended team.   

Knows that to say and do to keep extending his free ride.Hope your attorney is well prepared and I wish you the best of luck.