Typically that type of transfer does not trigger a re-assessment... because there hasn't been a change in the land or tax records.One drawback of doing such a thing is you would be purchasing the assets (which you want) and liabilities (which you don't want) of the entity. 

Doing the refi and the title transfer at the same time seems like most logical, is there any drawback to handling this way versus doing them individually?

They all have their benefits and drawbacks. 

A solid deal.3) FHA loans are great but they have some drawbacks.

As drawbacks/things to watch out for, taxes will be a bit higher than the base county rate due to Cape Coral being its own municipality.

This poses drawbacks as well.

These can all be had if the execution is done properly.That being said, xeriscaping does also have a few *potential* drawbacks.

I have one major drawback...

Any concerns or drawbacks of how they structured it.

I called a few banks over the last few days and just have not been able to get any real answers.I'm in a situation where I would be looking to buy 2 properties at the same time and would want to get my cash back out of them both.Any other insight would be much appreciated, any information on expenses associated with this or any drawbacks that might not be clear.