Physical REI is not a paper investment; almost anyone whose invested on paper numbers I am willing to bet is showing a lot less than the reality of if it unless they took realized gains by selling(into the appreciation rate) or cashed out refi. 

Just be ready for the challenges of managing properties remotely, which may require a property manager.Tax StrategiesSince you’re selling a primary residence, a 1031 exchange won’t apply, but you can still use the capital gains exclusion.

(Cost of construction and payoff of remaining loan on the home)1- selling the home as is would help on capital gains tax.

Over time, you might decide to self-manage, and that is where something like Hospitable mentioned will be even more valuable. 

Would refinancing now to simply gain a point (if that) on my current rate affect my ability to carry out one of these other strategies in the next year?

You may want to look at capital gains implications if it has been a rental for 3 years (assuming you lived in it right before that). 

Big thanks to @Zach Lemaster and his team at renttoretirement for making this seemingly complicated process with strict timelines a very easy process to navigate so I did not have to end up paying capital gains tax!!  

Thank you, RTR, for providing excellent and valuable services from start to finish, making it easy for out-of-state investors to own income-producing rental properties.”I agree wholeheartedly with you, but running amuck is the new theme.

That they require at least $50K in gains only makes good business sense to me. 

I said to myself you gotta take some risk to gain some.