How to implement multiple wallet folders located out of the bitcoin blockchain folder?
One work around the limitation of wallet location is that into the \bitcoin folder there could be a subfolder named, as an example, \AllWallets. Into this subfolder there could be many subfolders containing the files for each wallet desired. These files are the Wallet.dat, .walletlock , and db.log
When bitcoin-qt.exe is launch with NO wallet it will alert the user to either create a new wallet or to utilize the menu “File &gt; Open Wallet” and will offer to open any of the subfolder wallet files that are located into each of those subfolder.  For instance there could be 3 subfolders called \JackWallet , \AlfredWallet and \JoeWallet.
The user can open as many wallets as desired ( it seems ). A selector box will appear into the bitcoin-qt GUI on the top right  corner. This selector will offer to work with any one of the currently opened wallets. This way it becomes very convenient for the user to be able to utilize the wallet of his choice for payment or any other operation. The selection change is quick and appear very functional.
More experimentation is necessary to become familiarized with this newly discovered feature. Although this does not solve the limitation about Wallet location being out of the \bitcoin folder, it sure render the GUI more convenient  for the utilization of multiple wallets.