However, I have been thinking of late to refinance both properties to reduce the number of properties in my name, and because I want to close on two more properties this year.  

Shop the title companies on all refinances and ask for a "leaner fee sheet" EVERY time you see those title fee's above that nickel and dime you to no end!

My first thought is to refinance so long as you still cashflow after.

Then after the 1031 is complete do a cash out refinance. 

Why is it a refinance? 

You can refinance to a 30 yr upon completion of the renovation, paying off the construction loan. 

@Damon Poquette the BRRRR strategy is Buy Rehab Rent Refinance Repeat.

My 6 plex got a 10 year term on a 30 year amortization schedule so it pays down just like a 30 year loan but I'll have to refinance in 10 years.

I ended up getting my aunt to cosign with me and just need a simple agreement between us but not sure how to make it or what exactly to do.Here are the simple terms below:- We are splitting equity 75me/25her until I refinance and own it 100%.- I am putting up all the money, she is a passive investor.- I guarantee a cash out refi in 5 years at the latest and I guarantee her a $10,000 minimum return at the end of the 5 years.Any help is much appreciated!

(Mortgage+Expenses ~$800 vs expected rent $1,800 = $1,000 cashflow+)This should help with reducing my debt-to-income ratio (including my student loans) in order for me to cash-out refinance or qualify for another home.