When both units are rehabbed you could refinance prior to move out (when still owner occupied) and repeat the process (the last R). 

The only people I have seen lateral into the mortgage industry as an MLO with no prior experience are fresh college grads. 

We make no exceptions to this policy--for everyone's safety. 

That’s a great rate for a commercial loan I can never find rates that low so all my deals have been convention with a substantial umbrella insurance policy. 

But it was the same "package" story as the rentals.Though she did deadpan back that Faberge eggs would fall under either the art or jewelry category and anything valued over $5K would need to be a separate insurance policy. 

If you are really concerned, get an umbrella policy for additional coverage.  

Update, I added the umbrella policy. 

From the time of CLOSING on the relinquished property, the investor has 45 days to nominate potential replacement properties and a total of 180 days from closing to acquire the replacement property.Identification requirements: The investor must identify the replacement property prior to midnight on the 45th day.

You want a bank to take you serious look up what banks need to service a loan and have it all neat in a binder or folder prior to talking to them and bring it all in with you.

I had a place once that I had this same thing done prior to me getting it.