Does anyone have any first hand experience with buying Ag Land and rezoning them to residential or commercial properties for land flips, is this profitable?  

I have a reasonable amount of cash on hand, excellent credit, and low debt-to-income ratio.

This is because those who househacked actually pulled the trigger and started to gain experience while those looking for strictly an investment were too focused on numbers and returns to get their hand and feet wet.You can put little money down and take advantage of favorable rates. its a no brainer IMO 

I've handed off my LTR to a separate PM and they want to be named on a general public insurance policy for the unit, but truth be told, I feel like I need a solid umbrella policy to cover the MTR and any claims against myself and husband as the owners of the property.

The value of cash in hand today vs cash in hand tomorrow is significant and you should account for that for both sides of the transaction for any deal that you make. sellers going to do their best to sell their asset for max price.

If the HELOC rate gets out of hand, then go to the bank at that time.

I'm trying to figure out ways to pull some cash out, so I can make more long term investments and keep some liquidity on hand, while still keeping my expenses low. 

Smaller or less diversified areas, on the other hand, could struggle with the double hit of reduced tax income and rising costs. 

We feared it was too low, but we were not willing to accept anything more and left it in Gods hands.

On the other hand, if you are looking to do a more heavy value-add with renovation you may look for bridge or private money options.