I could then use the difference between my old primary payment an the new one for principal reduction, other tax deferred investments (IRA), capital expense account, have a little fun, etc.Any insight or suggestions are appreciate.  

Depending on the bank who owns it, I would be looking for a price reduction at around 30 days on market - likely $10K-20K at that price point.

They can't determine the throw off of an investment over a 5 year period because they don't know to take into account appreciation, depreciation, principle reduction, cash flow, etc.

Enhanced credit and the reduction of high interest revolving debt should take priority.

The entire state of Nevada has a long way to go, but the trend is positive.A Sea of Foreclosed Homes and Underwater MortgagesMass job cuts and wage reductions spurred a trend of missed home loan payments that would change the way residents would acquire or rent properties for the next decade or more.

I try to stay clear from reducing rent unless there is a specific agreement / addendum explaining the reduction. 

Hedge funds want the interest income that the 30 yr amortization provides and not the principal reduction. 

I got no response from the mom the father thanked me for getting the work complete. the water company sent me and email back stating that they would not reduce the bill due to the account being in deliquency and that the water usage was not high enough to constitute a reduction(basically saying the usage was normal).

The converse is also true: as interest rates are lowered, people's access to credit shrinks, sliding the entire demand curve to the left, and thereby the intersection between the two curves downward (signifying a reduction in price).

an IRRRL is simply an interest rate reduction refinance loan, so the amount of entitlement you are using does not change as a result of this type of refinanced.