It is what it is, you don't own AirBNB, you don't own Google so be happy you acquired some wealth.

I am going through my second turnover in the rental property space since I started acquiring rentals in 2017. 

I am considering acquiring a small apartment portfolio from an owner. 

Here I am once again wanting to fetch from this well of knowledge.I recently moved to Chicago and have acquired a 3 unit in the Bronzeville area.

Once we were completed with the renovations, we refinanced the 12 units and acquired the neighboring 4 units with 0 out of pocket.

Of course, if you have really deep pockets/reserves and are willing to have big cost overruns--throw money at the building--then full steam ahead.Keep in mind going forward, the asbestos can be remediated if the price of the property is right. 

I am considering acquiring six units on one parcel of land.

Can other properties be added as you acquire them, and if so does the term on each property differ or is it recalculated and blanketed together as one again like a refinance? 

I am doing IO for first 5 years...so our cash flow is not reduced substantially and allow me some time to acquire(the purpose of the refi is to diversify our RE equity) an underperforming multi in CA, and despite rent control, be able to increase rents(via organic turnover and annual increases) without being super aggressive, and between the primary asset and the newly acquired asset, have the five years to increase the cash flows on both assets, so that when the loans(will leverage the secondary asset, too) goes to P&I we are not missing any cash flow and probably doing a bit better, despite the increased debt service.As for the lower LTV, I am being conservative and trying not to overextend our leverage.

I wanted to acquire another one in this neighborhood.