Hope this helps.motiv8td - Yes, you are correct that I do want to know about funding something that could negatively impact me, and we believe we have done our due diligence as far as our liability is concerned.

If I have a commercial loan it does not impact the count for Fannie/Freddie, correct?

I'm worried there will be a big impact.

And semi permanent visitors that seem to be there all the time.

So an exchange can be a very valuable permanent tool.I would also just caution that if you plan to purchase more than three properties, please make sure to choose the correct replacement property identification method as one of the methods limits you to three properties and another method allows you to identify up to 10 properties but the sum of the ten cannot exceed 200% of the value of the property you are selling.

Here is some more info on each of these products: HOMESTYLE RENOVATION: Product Overview Combines home purchase or refinance (limited cash out) with home improvement financing in one loan with one closingProvides a convenient way for borrowers to make renovations, repairs, or improvements totaling up to 50% of the "as-completed" appraised value of the property with a first mortgage, rather than a second mortgage, HELOC, or other more costly financing method.Funds can be used for repairs or renovations that are permanently affixed and add value to the property.Primary residences as well as second homes and investment properties are eligible.NO MOBILE/MANUFACTURED HOMESRequired LTV's: Primary Homes:-1-4 Units-620 FICO Minimum (660 High Balance)-95% LTV 1 Unit-85% LTV 2 Unit-75% LTV 3-4 Unit- Minimum 680 Credit scoreSecond Homes -1 Unit - 90% LTV -700 FICO Minimum Investment Properties:-1 Unit - 85% LTV Purchase Only (75% LTV Limited Cash Out)- 720 FICO Minimum-2-4 Unit Investment Properties - NOT ALLOWED WITH THIS PRODUCT!

While long term tenants are wonderful, things happen and sometimes impact their decision to NOT move, like a criminal situation.

I am in the process of integrating and it has already had a major impact on business for the better.  2)  Following up. 

Yes your score will be impacted by many credit inquiries.  

I am more concerned about the impact of rising rates than on transaction costs in getting out of a loan.