We are debt free with money for down payment if needed, but would prefer not to use our assets.Right now I'm looking to attend meet ups in FT.

By refinancing your current loan and going to a 30 year fixed loan, you are able to reduce your minimum monthly debt and increase your purchasing power because your debt ratios will be reduced in the eyes of your lender. 

And the GPs always get the debt in their name.

Nate,I hope I am following correctly, but typically interest accrues daily on a loan and therefore when you pay off the existing debt you do not owe any future interest on the loan.

I’m looking to refi to reduce my debt to income prior to buying my next house hack property.

This would make the debt service $5,457/month.

The rental market in the surrounding areas are strong and have an equal if not lower entry cost than even using a FHA loan in the current market for the SFH.What would be the issue, outside of your paying someone else's debt off and not your own, with getting a couple multifamily units and leveraging into the area and house you want while paying rent?

My experience with commercial loans is the bank spends most of the time analyzing the deal, most commonly they use Debt Service Coverage Ratio (DSCR) or Debt Yield to analyze these situations.

Like I sold my favorite motorcycle to pay off my car, get debt free, and start buying assets instead of liabilities.

This is for a $7.8m purchase with around $4.5m in debt.