Thanks for the reply! I should give some background.
I grew up on a farm which we had a couple of farm/ranch horses. I as a teenager bought & trained a 6 month old filly. Though looking back I made some mistakes. I haven't owned a horse for the last 20 years (aging my self I know). I currently have an insurance agency in which I market to equine related business. This, I suppose, is a big part of what has gotten me more interested in horses again and wanting to get back on a small farm. I think with my insurance experience, I have a pretty good understanding of risk managment. I am in Topeka, KS (population 150k) and the facility in within 20 minutes of town. This particular risk appears to me to be vacant at the this time, though the owner has posted an ad in the last week or two about boarding this fall. The only way we could afford this place currently is to derive some income with it. I think from her ad on craigslist there is about 10 stalls for stall boarding and certainly enough pasture to board 10 horses. I think you could gross $4k-$5k a month if you did that. The draw would be the proximaty to town (Topeka) and the fact that there would be both a indoor and outdoor arena for boarders to use. I would not provide any lessons or training as I would have the time or qualifications to do either. My other thought was that we would be within 20 minutes of one state park and 30-90 minutes of many others I could include the use of a two horse trailer once a quarter for boarders (subject to availability).
I saw the book you talked about (I think) yesterday at TSC, but thought it had just a tiny section on boarding. I will admit I just thumbed through it.
And I do appreciate all advice given!