I hear a lot about starting with private money lenders and hard money lenders and then refinancing to long term conventional loan but what is most advantageous when starting with conventional?

Also, could you share who you used for the HML and the long term refinancing ?

Are they refinanced to help lower his monthly debt to income ratio?

I think you need to be looking into "refinancing" and not "consolidation" though.

I have no money of my own and in the process of refinancing my personal home.  

Even when you're here, it's hard too completely refinance out, so if this is the route you plan on going, it's important to have some reserves to make up for any refinancing shortfalls. 

The only way to shake this premium is refinancing to conventional.2.

And i doubt conventional loans would help here (especially if the house needs work).Has anyone purchased property with a LOC and then rented and refinanced the property to pay it off and leave a mortgage on the property (paid by the tenant)?

-Do you encounter any issues with refinancing mortgage with lender to put under LLC?  

You can lose a lot of capital by refinancing to fix the roof or re-plumb the place.