If they don't want to sign, then they just leave when the lease is up.If the other two qualify on their own, then let them sign and ask her to sign stating that she is a long term guest of the couple and if they leave, she must leave as well.

Consequences to the investor, guest, and me (the current Host)? 

The call that Palak leads is sometimes a guest speaker, or focuses on group work that you do with other program members. 

But if you have one person who wants high end and new all the time and another who is fine with status quo, it is going to lead to problems.

Is this possible for a cash out refinance or rate term on 2 investment properties on the same loan that need to be refinanced and separated, or is this a unicorn by a rainbow sitting next to a pot of gold?

this is gold!   

It's more of a replacement for the security deposit as they only cover guest damages with some specific stipulations.

Getting the REPS status in order to truly leverage the benefits real estate paper losses offsetting your W2 earnings is something that takes very clear logging of approved activities proving your qualification every year.

Low income subsidized rentals may return a high gross cash flow, but their total investment value in a growing portfolio is more glitter than gold.

Your profile mentions that you are a real estate agent - You want to have a conversation to see if you potentially are eligible to claim real estate professional status which would allow you to treat your rental losses as active instead of passive.Also have a conversation if you are required to make estimated tax payments since there is no withholding on your commissions.Lastly, your profile mentions you are in Florida which does not have a state income tax which opens you up to more options for choosing an accountant.