They say you can get 46% ROI by buying cash then using a equity loan to extract all your money you invested in the property. 

Your return will become infinite if you can extract money in deal.  

@Chad Trail, we do need more information like total amount financed, how much rent are you getting, how high is your interest rate, how much equity, etc before we can give any meaningful advice.

If the land is back in the woods or off the beaten path some where other types of development would not find it as desirable then the cell tower might be the answer.If you have a great piece of land in high demand then pushing the tower off to the back on a corner with a small access road might let you keep your other land to extract value out of.Would really have to know the address, how large the land is, topography of your land, etc.     

It sounds like if you just have steady rent growth and not much equity growth in your market then unless this property is sitting on a bunch of land with value you are not really getting much out of it.If you have additional land that is not needed maybe you could parcel off and extract value that way.       

I hope to be able to contribute meaningfully after I ramp up my learning - and gain some real experience.

It is basically coyote extract.

Can't give meaningful advise without a basis of your previous experiences. 

@JoAnn Dorio@Jason Dillard is correct, but as a professional I wanted to add confirmation.The only way you can extract value from an IRA is via the process of a distribution. 

They do not provide meaningful oversight or guidance with respect to tax code compliance.A checkbook IRA LLC is an enhancement on the above structure that is generally more time and cost efficient for investors with a more diverse portfolio.