We're trying to figure out how to tap into our rental property's equity the most optimal, efficient, cheapest way. 

Reinventing the wheel isn't too efficient. 

For a more straightforward way of distributing it tax-efficiently, you could give it to a charitable entity, so if they are part of one that would be easy-peasy.

I say that mostly so you don’t think I’m a rando when asking my question and asking you to take your time to respond.Commercial Building Owners - Can you give me some insight into the things you think about or care about when it comes to the roof on your building and / or the Energy Efficiency of your building?

Sometimes, it is easirer to cut your losses and move on rather than wasting time and energy on something that will go nowhere.

Here are a few links for you to check out:https://www.biggerpockets.com/forums/51/topics/781803-learning-about-syndicationhttps://www.biggerpockets.com/forums/51/topics/839015-are-syndications-extremely-tax-efficient

Based on your experience and knowledge, which would be the most efficient option for newbie investors considering our situation, and family size?

This is why the former owner wanted out as he didn't have the energy nor the will to continue.How long did it take?

The caveat I qualify "yield & risk" argument is that it applies in an "efficient market".

Focus on that and it should provide some clarity on how to adjust your investing strategy. as for the money, rates are super low and inflation is set to rise, so it's probably not an efficient use of capital to pay things off but that may not matter depending on your goals, it's good to consider though.