Hello,If one can refinance and reduce their interest rate on a investment property by 2% points but it takes 2.5 years to just recover  all the fees  is that normal breakeven time and worth doing it.

It is surely a painful and time consuming process and I guess you also need to weigh whether the amount you need to recover is worth the additional costs and time.

And even if you look at the home values during the 2008 crash, when home values began recovering, they went from -20.9% in 2011, to -15.9% in 2012, to -4.1% in 2013, to +3.0% in 2014, +10.3% in 2015. 

Biomedical EngineeringWouldn't have my day job without them.Wouldn't have my utter fearlessness WRT troubleshooting and fixing all manner of problems in distressed property without my Day job.Wouldn't have the money to recover from a bad marriage and get into real estate investing without my day job.All in all I'd do it all over again.

2 - Any of your own money you use/spend must be recovered before you start making a profit. 

This negative position can consume years of cash flow to recover.

Ie - that you have the ability to foreclosure to recover your funds and any associated costs.  

This is lost rent that thee is no one to recover from (unless someone thinks I can collect from the government.I would not refer to it as nationalization of our property. 

The State of Arizona has recovered very fast from the Global Pandemic.

You have to watch and make sure the tenants are paying but you will never recover the cost of utilities by raising rent to cover them and then paying them yourselves.