Simply consolidating the work of your MTR/STR into a single property isn't going to save you much work unless you plan on farming out the management or co-hosting of that property.

He was looking to consolidate his portfolio into one area and gave me first dibs.

Having worked for groups that have been through a spectrum of life cycles (one off syndications through consolidation, institutional funds, non-traded REITs), there is a general immaturity in the syndication space when it comes to the finance side.  

We financed 21 of those properties, but today… 5 years after we started, we only have 7 properties still financed - although we did do a consolidation loan that merged 5 loans into a single loan at a lower interest rate.  

Simple, consolidated portfolio w/ $4-7K net per month. 

Marie, your process will basically first be a consolidation exchange - you'll sell the two TX rentals and purchase one nice property in the 1031. 

Consolidates our calendars so I don't necessarily care which platform the booking comes from. 

Households are consolidating and that will hold rents down and vacancy up.

I am not subcontracting the management however.The pro:I consolidate all payments and expenses under one entity.I can decide to take a w2 income from it if I need to show income for a future lender and also I can use it to fund a solo 401k.I get all the fringe benefits of a Corp (health plan, vehicle reimbursement, ...)I am expensing all my ancillary cost pre tax.I am separating operation from ownership and get another layer of asset protection.The con:Another entity to manage, another tax return, more feeConvert some passive income to active income.You may need a license for property management in some state (but you may have an exception for owned properties)

Hi @Manish Shah,If it's a BRRRRrrrr:HELOC is the down payment.Traditional mortgage for the rest (unless of course the HELOC is sufficient to buy without any financing on the new property, in which case skip to step 4).Do your value-adds over the course of six months.As soon as you are at the ~5.5 month mark and the equity is there, start the process of cash-out refinancing the new property to consolidate the HELOC ARM debt into 30 year fixed.HELOC is now paid down, and available for your next deal.You now get the normal mortgage interest deduction for the full amount of debt that was incurred to acquire the property.Appraisals right at the six month mark are sometimes on the conservative side, so that's your biggest exposure to risk that you should be aware of upfront.