They want to sell this lot and dump the money into another community project and I believe their opinion will carry weight with the zoning committee.

The monthly reduction of doing an IRRL now I believe would be negligible in increasing your cash flow. 

If you measure the totality of your investment, mean cash flow, debt reduction, appreciation, rent growth etc you will always make more money in the areas of high demand like DC, Boston, Seattle etc than you will make in a pure cash flow market like you will in the mid west.There is always the possibility of your rate going higher, but thats the trade off of a lower rate with the arm.

Reason is for an end buyer most likely they arent going to flip, everything has to be perfect for them to make a decent profit no wiggle room for price reduction if needed. 10k equity to an experienced investor isnt much.

Each reduction increases the feeling that the buyer is getting a deal. 

It breaks the IRS rules and constitutes mortgage fraud.So, the tax-reduction game is to have rental properties that cash flow and then have enough depreciation deduction to erase all the cash flow and create deductible losses.

I was making in excess of $150,000 annually without going out the door and with no reduction of principal.

Invest $100, add $20 in value, market goes down $20, but you have cash flow and principal reduction along the way resulting in a positive return. 

@Nate MorrisIt would make sense that the deal may need to be included in a separate sale.Generally when purchasing property, you want to weight more of the value into items with lower depreciable lives.

While you can find partners to take some of this weight off your shoulders, you're still going to need to put EMD down on properties (risking tons of money), your reputation on the line, your investor's confidence in you, due diligence costs (inspection, scopes, lease audits, etc...), travel costs if you're going out of state, and much more!