Carriers have lost big money so they pulled out.

(research, get quotes, maybe pay to have an engineer examine it, find out if you would need to pull permits and whether that will trigger code compliance with other parts of the structure and so on and so forth).

If it can stand alone as its own unit, then it would be wise to separate the utilities but you will first need to check with planning and zoning to see if a third unit is allowed.You may also need to pull a permit to separate off the utilities.

You're taking a real chance not pulling a permit.

You may save a bit if some permits had been pulled and some intangibles are is in place.

If the mortgage is secured by a second home or an investment property, the borrower may own or be obligated on up to ten financed properties (including his or her principal residence).Look into Delayed Financing Exceptions when looking at cash-out refinances, there are a few things that will affect your ability to pull equity out. 

I have subscribed to BiggerPockets since last March, I have been reading the books suggested, I listen to all the podcasts, I m participating to the webinars, go to investors meeting, I even have TWO mentors AND I m pulling money out of my life insurance so I have cash ready to go! 

If you pull comps and write your letter, the appraisal does not have to change his Opinion of Fair Market Value, however he should/has to within the report address why your sales were not utilized and or why they are not considered reasonable comparable alternatives.

Is he pulling my leg?

If you're LLC or other entity we don't pull credit.