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Second cousin is dying. He has Mee-Maw's old farm land. We want to keep it in the family, but no one would be able to make payments on a $2m loan.
>675 acres rural KY
> ~200 cropland acres
> ~75 pasture acres
> 2 livable dwellings on property, one occupied (by old widow in the family, not going to charge rent)
> Farmland is on long-term lease. Lease would only cover ~25% of mortgage
> Any supplemental income has to keep the spirit of the land intact - no RV parks or logging
So far I have thought of a few ways to generate supplemental income from the land, such as
> Guide hunting (lots of white tail and turkey)
> Bee keeping (not a lot of cash in this)
> wedding venue rental (1 hour away from nearest populated area, not sure I want that many people on property)
> poultry farm (takes up pasture land space from farmers leasing)
> Air BNB/ Bed and breakfast
I am not at a point in my life where I can go farm it full time, but I am only 2 hrs away and can go up frequently.
