My question is - if I wanted to take a loan out against that property to pay debt I owe in a different country and buy an investment property in a different country:1. would I be taxed on it? 

If the STR income is on your tax return it is qualified just like long term rent using this form:  https://content.enactmi.com/documents/calculators/Form1038.C...

A bill that would have increased property taxes 400% on all STRs failed by a wide margin on Tuesday. 

Ins and taxes are only going higher, and IMO FL is heading for a correction, its already started.

My plan is to refinance the land with hard money, pay off my debt (40k) with the cash and then take over my rental property.

Imagine getting a 2% - 5% interest rate today and how much cash you would be saving every month on your mortgage payment and the increased debt paydown! 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

With debt service being higher now, it's better to be in good locations in good cities to me!

Then your project would be eligible for 20% Federal tax credit & 25% State tax credit.  

Pay off your debt, and build up a 6-month emergency fund or preferably more.