@Steve Wilcox I ran a simulated 5 year adjustment to 7% on my current properties, given the reduction in principle and an increased interest rate my payments would jump about $70 per unit for the mtg.

@Austin RicheyIn addition to the above great suggestions, there are a few good credit simulators out there where you can play what if scenarios.  

Ann Bellamy "Back in the day" we called using end buyer's money to fund purchase of the property, with "wholesaler" in the middle a "simul close".

Simulate a purchase, then once you start looking around you will get more accustomed to working leads and knowing if one will work for you.  

We use a home grown simulation package to model potential acquisition under varying future market conditions (most of them pessimistic) to see of the property will hold its own and provide acceptable returns in all likely scenarios.

Also asking if some one who has done this or simulator how do I calculate out what all it’ll cost I’m struggling to figure out if through the interest only payments, payback period, my current mortgage, and my new mortgage , what all I can expect to pay/if I can afford or even if this is a good idea.

They are doing this to simulate a cash out refi without the new lender knowing that that's what they are doing (can you say falsifying and misleading?).

I need to do more research and probably some simulation in order to make sure which one I prefer.

I confirmed my theory by simulating the scenario in Turbotax as well.

Ideally, I'd like to see cash flow here if I were buying these properties as a standard rental as simulated in these calculations.