We've been looking for a home with acreage. It seems that we can find small acreage. Most of this acreage (4-10 acres) has very pretty land with very ugly homes. We've also seen larger acreage (75-100 acres) with one or two homes. These pieces of property are quite a bit more expensive, although certainly much more reasonable per acre.
If I had my choice, I'd choose a smaller house we can pay for outright without any mortgage or debt. Ideally, it'd have a separate, small living quarters for my son, who will likely never be completely independent.
The larger pieces of land would require a mortgage. One piece of land, in particular, has two homes and almost 100 acres. We could either sell off one of the houses (it's at an edge of the property) or rent it out. It has tillable acreage but we don't farm. My health would not allow me to keep/board other people's horses. Anybody make a decent amount of money renting off farmland? Anyone have any ideas about how to make the best decision?