A cash out mortgage includes any capital to the borrower beyond the existing mortgage lien, such as funds to recuperate capital investment into the property or consolidation. 

Good for if you are waiting for a good/better deal, or perhaps if you are trying to consolidate funds from a bunch of smaller properties so you can do a larger deal, etc.Not to say 1031 isn't good, but just have a healthly attitude towards paying tax, its what you do if you are making money. 

The owner is aging and consolidating his rentals to a single area.

To combat this problem, a great management company who will have your back and navigate the ebb and flow of the ever changing climate of these rental sites is essential.Regardless of industry, when one or two of the providers consolidate power and foreclose all competition, this type of behavior inevitably follows. 

Call your banks and ask them if they offer any options and try to work with them.Another option is to sell one of your property, consolidate and move on...

I could also increase the NOI by taking over management myself.Seller is motivated to sell because he's out of the area and trying to consolidate his holdings for easier management.  

High BP, I’m very new yet have had years of credit cards, building credit and working on consolidation. 

Team, vendor and admin work consolidation is a huge plus if you stay in a limited number of markets. 

But they will be along the lines of...Investment business:  purchasing 4 more mobile homes with the land as rentals, super dial in our systems to utilize every team member in their unique genius zone, and consolidate some debt.Education:  Create 1 new class, (most likely on the topic of private money), double my book sales, speak at 40 live events, and be a guest on 50 podcasts.

We make combined around 150k a year and would like to consolidate.