The line will be over $500k so most banks process it similar to a regular home loan.  

Personally, what I've been doing is simply adding up these individual expenses, and then come tax time or whatever, simply divide it among the number of properties that I have, and then add that number to the specific unit in question's maintenance/repair expenses.

Your draft person should know about this, but make sure you check this.

I assume that the situation you described above was a bank owned apartment portfolio(foreclosed)?  

I'm slightly lenient with credit and rely more on bank statements.

I personally save a fortune on taxes and my clients do very well with this strategy.

I personal would only explore re-financing with other lenders (having conversations- getting to know what they offer).

As of now, most banks don't recognize the split model and only run numbers on the LTR units since they feel those units are guaranteed income. 

I, personally, prefer not to be cash flow negative assuming 20% down on a deal.

The person then gets called and qualed and so it begins.I am reasonably tech savvy but not as much in this realm (not yet I guess) and nobody end to end owns the process.