These are a few of their oldest investments, so I'm assuming I'll be seeing similar "opportunities" on my other two investments in the future.

FYI to anyone wondering if real-estate is a road out of financial mediocrity I'm here to preach that it worked for us (in out opinion). 

I have been investing for years; stocks, options, bitcoin, real estate, and private lending and now I am getting out of all of it because my job is proving to have an infinitely higher return on time and it no longer makes financial sense to dump money into rentals. 

Germain Act could work if you qualify, but if you can’t refinance right away, you’ll need to consider future plans.For whether to sell or keep the properties, selling gives you liquidity and eliminates mortgage obligations, but you miss out on future appreciation.

The Corporate Transparency Act (CTA), which requires businesses to report Beneficial Ownership Information (BOI) to combat financial crimes, is now facing uncertainty due to a recent federal court ruling:What Happened?

While it might seem like a solution now, it limits their ability to use their VA benefits in the future.

My current monthly mortgage payment plus projected future mortgage payment (2900+2900 = 5800).

Likely we'll be able to purchase in the future even if they aren't inclined to participate.That sounds like a solid JV structure, leveraging the land as equity really does make it a win-win.

I'd recommend you start there.If the quote you have found is correct, then Bonus Depreciation might not be the most financially-friendly choice.

You could tap the $400k of equity in your primary, but that's a slippery slope with the little financial discipline you appear to have and could quickly lead to bankruptcy.