The Refi was a FHA Streamline Refi @ around 95% LTV, not a FHA Cash Out Refi which I believe required 20 % equity.

The contractor maybe was banking on shifting the money from that concrete line to bolster profits which is why he's trying to milk that extra $118 from you for the toilet.

Eventually the doomsday people will be right.....They have been saying the next "crash" is coming for the last 5-8 years now.....and yet here we are.I do not believe there will be another 2008 crash in our lifetime.....a correction, yes.... but NOTHING like 2008....so don't bet the farm on that "crash"I'm in the camp of your primary is not an investment asset....its costing you $$ until you sell it....and then you have to move an live somewhere else...so in many cases you are just shifting that $$

I want to be able to have some weekends off and it be ok for me to turn my phone off and not have to worry about somebody calling in and getting a shift covered.I’m in need of change professionally to make my personal life better.

My ideal plan was to save up down payment cash & just purchase a rental here , then another down the road & maybe cross more bridges on the way buy to really be able to hit my true goals for my vivid vision I need to shift my strategy.

Old houses have cast iron pipers that will disintegrate (because of age and/or foundation shift).

I am currently doing a streamlined finance on this property with an associated mortgage company, which will remove the FHA and PMI permanently and lower my payment another $150. 

Is your tenant subletting to shift workers or running a daycare or other business out of the property? 

He just wants to keep things streamlined with all of his properties.

But the purpose is essentially to streamline the litigation process so that anyone can bring a claim, and it's much cheaper than a full blown litigation.