It's entirely probable that  your LLC is a disregarded entity for federal tax purposes. 

As an added note, I have read a few questions and comments missing the finer point that an LLC is also a "disregarded entity" with the potential to elect to be taxed as an s-corp..

@Jason ColemanWhoops sorry disregard my last response, I didn’t realize I was replying to a 3 year old comment!

If that's the case, the OP may not be committing fraud, but the lender is.J Scott Could it also be fraud if the person making the loan on behalf of the bank is grossly disregarding company policy?

You can sell the other rentals that you've held; however, to buy, rehab, (hold for a year) and then sell is a clear and blatant disregard of the rules.

EIN #2 is where I am having issues; I had hoped that a separate EIN would further establish the series' independence from the management/holding/parent company but, with my partner and I as opposed to the parent listed as members, we now have to file a separate tax return for the series when I wanted to treat it as a disregarded entity for federal tax purposes and just file one return for the parent.

If the LLC is owned by an individual or married couple, the IRS considers it a disregarded entity - meaning there are no federal filing requirements. 

(May not need to if disregarded entity)12.

Joy, if you are the sole owner of the LLCs, then the LLCs are disregarded for tax purposes, so there will be no additional taxing entities.

If I am not mistaken, I believe the series LLC is filed as a single Schedule to the taxpayers' income tax return (assuming the LLC is disregarded which it should be by default), correct?