I tried to find out about this, as I was told by my PEBLO it was possible, and another PEBLO that it was not. Only regulation I could find deals with Home Awaiting Orders for MEB Soldiers who were inpatients when their MEB was initiated. See AR 635-40, Appendix E, Paragraph E-5 (a) through (c).
E–5. Administrative control of Soldiers after PEB action
b. Physically unfit. The MTF commander will retain a Soldier under his or her control pending final review and
approval of his or her case.
One thing to keep in mind, if you are found unfit, whether you are retired or separated with severance, you are authorized an extra 10 days of PTDY, for up to 20 days. Not to say that your approval authority will approve it (mine is giving me a very hard time about it). Check out AR 600-8-10, Chapter 5, Paragraph 5-35 d. (8) and (9) and e.(1)
d. All eligible soldiers are authorized ten (10) days transition PTDY, as provided in paragraph f, below. The
following soldiers are authorized additional transition PTDY in conjunction with their transition from active duty. If the
soldier is being separated for reasons not listed below, he or she is not authorized additional (that is, in excess of 10
days) transition TDY.
(8) Officers and enlisted soldiers separated for reason of disability rated at less than 30 percent. Commanders must
ensure that a DA Form 31 (Request and Authority for Leave) with inclusive dates of PTDY and leave accompanies the
packet forwarded to the Physical Evaluation Board (PEB). If the PEB finds the soldier fit for duty, the DA Form 31
will be voided.
(9) Officers and enlisted soldiers who have an approved voluntary retirement or disability retirement.