It’s very common for investors to later refinance multiple properties into a single portfolio loan once cash flow is stabilized and the portfolio has a track record.A true portfolio loan can absolutely include properties that aren’t adjacent — even across different states — but lenders usually look for:Strong, stabilized cash flow across the entire portfolioCross-collateralization (the properties secure each other)Consistent DSCR and operating historyFewer, higher-quality assets versus a large scattered poolSome banks and private portfolio lenders will do this, but it’s more relationship-driven and less cookie-cutter than one-loan-per-property.The tradeoff I usually explain to investors:Portfolio loan: one payment, flexibility, cleaner balance sheet — but cross-default riskIndividual loans: more admin, but easier to sell or refinance properties one at a timeMost experienced investors I work with use individual loans early on and consolidate later when scale and stability justify it.Happy to answer questions from the lending side if helpful.

(Consolidation, Extension, and Modification Agreement). it combines the existing mortgage with a new mortgage.

Is there a tool that consolidates the calendars from the various booking sites and then updates those calendars so that our STR is not double booked? 

Markets will likely consolidate recent gains rather than chase new highs, as participants position for year-end.

If you decided to sell the properties, you would be able to do what we call a consolidation exchange, where you sell multiple properties in a 1031 exchange and reinvest in a larger investment opportunity.

In addition you can consolidate multiple properties into 1 - I personally like this idea - one roof, one HVAC system etc. 

There are plenty of other options out there—like debt consolidation or simply grinding it out.Keep pushing forward! 

@Lee Nugent, What you're referring to is what we call a consolidation exchange.

For example, many people don’t realize that major healthcare consolidations—such as the Boston-area systems involving Brigham & Women’s, Mass General, and Dana-Farber—are largely responses to escalating operational costs and the difficulty of competing independently, even at the highest levels.

Also in order to get a clear green light and price range, I think you should concentrate on tightening up the credit cards either by consolidating or paying off balances and then getting a lender to perform a full VA pre-approval using the estimated rental income from the second unit.Good luck!