So does the interest savings + increased cash flow of a recast equal the larger interest reduction afforded by the normal pay-down? 

It's not all roses and cashing fat checks.

Of course, I still can't tell the difference in heat reduction even though it's a California Title 24, white roof that reflects heat.

The end game is fluid but generally involves increase of free time and reduction of risk as @Chris Masons said. 

I think it's good to include that "conservative" CapEx reduction, since your property will undergo more wear-and-tear due to tenant turnover and since you will likely have 2-4 young adults occupying your property, assuming you plan on targeting undergraduate students.  

When I finally came on board with that line of thinking, I have seen an increase in the quality of tenant/applicant, and a massive reduction in evictions and turnover.If a person feels comfortable and knowledgeable enough about an area, just exercise solid fundamental analysis on the area.

Remember, even after clipping off the credits, the investor still owns the Sending land, sitting there free-and-clear, and having already delivered some fat profits. 

Potential savings there...but we'll keep the budget fat for right now and slim it down as we go.Scope of Work Summary:Complete interior paint inside, baseboards, new flooring throughout entire home, brand new kitchen cabinets/countertops.

I have also seen a situation where the parents held the "mortgage" on the property and gifted a $14,000 reduction in loan principal each year.

Retail, multifamily it doesn't matter these cities and counties are trying to go hog wild with new assessments.Everyone I know brings suit for appeal to get a reduction of the new valuation.