Stepping off the ledge

[Tim Robbie]

Hello everyone, 

I'm curious what advice you all have for me concerning my given situation.

until recently I've had no real experience with real estate.

My wife owns a home in the UK which we rented out last year and has the tenants paying the mortgage on currently but isin't really making any money.

We purchased a fixer upper house here in Texas a few weeks ago to live in also and hopefully flip in a few years.

Ive enjoyed these experiences and they have really peaked my curiosity on how to get more involved in real estate, which made me start thinking.......

Basically I inherited around 800 acres of ranch land this year and want to leverage it to buy some rental properties.

The land is worth roughly $2,000,000. 

I believe I should be able to get at least 75% out on either an Ag loan or some type of LOC.

Ive managed ranches my whole life and understand how they operate from a business prospective and I could roll this into buying another ranch but, I just don't think the cash flow will be there as in rentals.

My goal is to net $100k/yr. as passively as possible and grow from there at a moderate pace within the USA.

Can you shed some light on multi family vs single family, choosing location and how to strategize the investment of $1,500,000, please?

Has anyone done anything similar? 

What would  the smartest way to leverage this property?

Thank you for looking,

Tim