@Christopher Freeman on a refi, it will cover both loans as they will HAVE to be paid off in order to close.Usually something like this is done between 2 friends (who are both investors and buying rentals).

@Christopher Abele, sounds like I need to increase my initial funds.

Quote from @John Mocker: Christophe,Normally I would not start by recommending an Independent Adjuster but they may be part of the solution.  

When I dare to be powerful – to use my strength in the service of my vision, then it becomes less and less important whether I am afraid.”R.E.I Christopher McCann

That would be Tammie Whitlock at Asheville Savings, Christopher McFatter at Home Trust and Steve Jennings at Carolina Alliance.