It sounds like the only real benefit would be to pushing the capital gains into long-term from short-term.  

That said, at the moment it's more important to me to get rid of the 5 conventional mortgages and there are some additional benefits to moving them to a commercial loan.

I'm looking for my first deal for myself so I'd benefit greatly to learn more from you guys. 

Another really nice benefit is the lack of personal debt.

I will definitely need to get a game plan together for verifying income.Ask for recent paycheck stubs, employment letters, and benefit award letters.

Is there benefits/flaws to both?

If you stay active on BP, you can really see some great benefits. 

I suggest as an agent, you get to know those in the medicare system that take care of benefit eligibility applications.

But don't discount the opportunities also to either convert investment property to primary residence or to simply  use the deferred tax dollars for your own returns throughout your living life.The primary residence conversion benefit has received a hair cut in recent years but there is still significant opportunity to eliminate a lot of tax in that method.Doing an amortization can show you the benefit of keeping the tax and using it for your benefit in the same manner as a traditional IRA lets you compound your return pretax using the tax dollars.  

I think that it's going to be very difficult to quantitatively demonstrate or back up my claim that Millennials (at least that I know) are less inclined to want to own property than our parents when the financial benefits of owning vs renting are so significant.