Is there a way to float from Mesh Edit mode to Armature Edit mode In a Single Step???

I am in the process of adding armatures to obj models. When it comes to positioning the bones, I like to select mesh vertexes, position the cursor then move a bone to the cursor.

The only method I know of now to switch between the 2 edit modes is to do this 10 step process for each bone in the armature…

  1. select the object I want (say mesh)
  2. tab from object mode into edit mode,
  3. select the mesh I want to center/place the bone,
  4. move the 3d cursor to that point,
  5. tab out of edit mode,
  6. select the armature,
  7. tab into edit mode,
  8. select the bone I want to move,
  9. move it to the cursor,
  10. tab out of edit mode re-select the mesh and go back to step 1 and do the process for the next bone.

Surely there must be an easier way to flip between the 2 edit modes (some hot key)

Can anyone point me to that key if it exists or shoot me a link to a video show me how to to do this??