This  would allow me to pay down an additional $40,000 of debt, leaving more funds from the cash out refi for rehabbing a non-income-producing garden unit in another building that I have sitting there.

Only funds placed into an OZ within 180 days of the sale that produced a capital gain are eligible for the OZ tax benefits. 

Think bigger than that, put your money to work for you and buy income producing assets or invest in other ways that earns more than what you’re paying for on your mortgage.

Question to the apartment owners, management companies, single family portfolio investors and the like.Would installing solar panels on your income producing assets make sense if there was no upfront installation cost and you could "bill" the customer for electricity that the sun produces for each property?

I am exploring MTRs and also browsing through realtor apps to see if there are multifamily homes in market that can produce cash flow.

Don't ever sell a property unless you have a concrete plan to invest the money somewhere else that will produce a greater return.Rent the entire house.

If you don't set internal deadlines and goals, before you know it, years will pass by and you will still have these vacant lots that are not producing cash flow or building your networth to the way you dreamed of.

It is producing hay ground, and we would like to preserve as much of that ground a possible to continue to produce hay.

This amounts to lost opportunity because if you had purchased RE, at the closing it can start producing return.5) ADUs detract from the existing structure whether this is privacy, a garage, or just yard space. 6) this is related to the value added by the ADU, but there are many more buyers looking to purchase homes for their family than there are RE investors looking to purchase small unit count properties.

I have heard there is more heat produced going that route though.