Refinance to Consolidate or Not?

[Dane Osa]

I own a primary and investment property.  However, I have been thinking of late to refinance both properties to reduce the number of properties in my name, and because I want to close on two more properties this year.  The primary has one year left on the mortgage before renewal, while the other has 3 years to renewal. I know if I break the mortgages I will have to pay fees which I am not concerned about as it won't be too high. I might even save by getting a lower interest rate.

Here are the numbers, the primary has about 352k owing, a rate of 1.8%, and recently appraised at around 1.275m while the investment is 201k owing, a rate of 2.3%, the market value of around 360k.  If I can merge both I can save about 200$ from both monthly payments which is around $2700 (1840 + 890). This can improve my cash flow on the rental to about $600. 

I have been wrestling with this for weeks, and I just can't think this through on my own anymore. If you were me, what would you do?