A PM doesn't make sense for a dozen units here and there.My goal is to consolidate into a 48-ish unit here or 75-ish in a cheaper market.  

There are many reasons to refinance, some are: 1) to replace a hard money loan, 2) replace another conventional loan with better terms, 3) replace a maturing loan with balloon (similar to #2), 4) consolidate multiple loans into one, 5) pull out some equity after slow growth, and 6) pull out some equity after adding value for quick growth.In most every case a traditional lender will want to see that the property is "seasoned" -- that is the vacancy and rents have been stable for 9 months to 2 years.

I personally don't 1031 because I can continue to cash out refi every few years and consolidate the loans....especially at these low rates.

I also do commercial loans (consolidated).

Is there any way to put multiple mortgages together into one? It would be nice to have everything in one place. 

We are now looking to consolidate to make it easier and hopefully cheaper. 

I consolidated three loans into one. 

There is benefit in ease & consolidation of payments.

I have packaged (consolidated) multiple residential properties into a single commercial loan with a lender, but they will still look for 20-25% equity in the deal - and even if that is there, they will expect you to have your own money in the game.  

So we’re going to consolidate our debt and cut our payments in half with this offer.