Purchase Only a Plot of Land for rental income for Events, Etc.

[Matt Casey]

Hello all, 

I am looking to break into my FIRST real estate investment and the only deterrent is the HUGE amount of upfront money.  I am getting creative with how I can break into the market and have been thinking about purchasing just a PLOT of land, potentially with a really nice view or near an ocean, and then rent it out (i.e., for events, family reunions, weddings, airbnb as a venue, potentially campsites?).  I am curious if anyone else has ever teetered with an idea similar to this and what were the results and/or pros and cons of it.

My strategy is to make just enough income per month from the property to cover the monthly payments.  Once the property is paid off I am thinking about either a) putting the plot back on the market for a higher price, or keeping it for myself for future ventures.  I know this would really be a GRIND and HUSTLE type of entry idea but just wanted to throw it out there to see if anyone has tried this before. 

Appreciate your feedback! 

Matt