Best of luck in your investments, particularly in such a stressful time for the market. 

I suspect right now coming into April and the uncertainty of rents coming in PM's are going to be quite busy and will like landlords suffer reduced incomes as their income is based on collected rent at least the monthly portion .. just going to be a wild ride for landlords and Pm's in the next few months but it will pass.I suspect PM's are being bombarded right now with worried investors..   

Moving is added stress for everyone given what our country is up against.

Yes, your IRR will be juiced (typically) from some form of cashout refi, but how does that effect their returns, especially if it takes any type of consistent return off the table, or significantly reduces it. 

You can always do a longer closing to reduce your losses, and to wait and see how things settle out in the next few weeks. 

Snowballing certainly has its benefits, but i’m wondering if there is a better way to reduce total interest expenses.Given that that 2/3 rds of interest is paid in the 1st ten years of a 30 Fixed mortgage, there is a timing aspect that comes into play.  

mod=home-pageThe cliff notes version: If we look at the entire real estate market of the country, we see supply and demand reducing at the same rate.

And since I purchased this home for $120,000, that means my bank will have to reduce the loan amount down to $127,400 to keep my cash back at $120K with rolling in all closing costs and prepaids.

I do plan to reduce my asking rent and get it rented in the next month or two.Thank you in advanceBrady

The more granular you get during this phase, the easier it will be to roll through the stressful steps of the rehab together with harmony.Another added benefit of this is that you'll begin to see if this is destined to be a "one-off" partnership or a "rinse and repeat" partnership, which will largely be determined by whether or not the two of you see the world in the same way.