I successfully negotiated a $50,000 reduction in price in a multiple offer scenario. 4) Do your math.

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. 

There are 5 bins...cashflow, appreciation, principal reduction, tax deduction, mortgage interest deduction.

For example, if your inspector comes up with termite damage, you can ask for a price reduction or treatment by a licensed exterminator and repair of the damage by a licensed contractor. 

The remainder is a reduction of the mortgage principal balance, which is a liability.

Get fat and grow a beard!

You have done minor reductions so far so still might be behind the pricing curve.

I am going on 2 years of house hacking (plan to house hack for a 3rd year), and I am looking to hear your perspective of how many short term rentals it has taken you to achieve Fat FIRE. 

I'm leaning towards the "reduction in income" selection as it's true and it doesn't require hardship documentation....As you can see- I need all the help I can get here...

I’ll buy if someone is willing to reduce (I still don’t know how much of a reduction is necessary), but if not I’m happy to wait and let them hold a non-performing property for that much longer.