And, a 5% to 5.5% cap rate property will actually produce tax advantaged cash flow - OP may actually harvest close to that after taxesIf I were in OPs shoes, I’d want some REI and not be totally passive and “safe”.  

That's like saying, "Yeah, i know the bank is on the pink slip with me as the registered owner but i sold it to a guy an he's gonna make payments to me.

Hello Josh,I am Tracy Bailey, AKA The PINK Realtor, and RE investor (commercial focus) here in the Indianapolis region.

Heck you could even paint their side hot pink (I wouldn't suggest that).

Focus on Tax EfficiencyTax-Loss Harvesting: Use taxable accounts to offset gains with losses, minimizing your tax bill.HSA Contributions: If you have access to a Health Savings Account (HSA), max it out.

It does not have the pink undertones often seen in beige or the blue undertones in grey.

If so, the best call would be to sell it to harvest the tax free gains.

Now I have only logged a few Redwood sites in CA. ( too tough to get permits) and what they allow you to harvest is younger trees as you note.. 

Watch out for pink trailers and junk hoarders buying your lots.  

I tried not to laugh but It was a new sign with almost the exact same wording and font and style but it says, that items cannot be stored with "the exception of one pink bike" There was no bike parked there yet but it really annoys me that in the last day or two "someone" changed this sign.It literally said that No storage with the exception of one pink bike!