Buying a Farm

[Matt Merriott]

This maybe a dumb hypothetical question but thought I would ask anyway. 

My grandparents are getting up in age and have thrown around the idea of selling their house and 80 acres. My parents have a 400 acre farm (generational farm which has long been paid for) down the road which my dad and I both run beef cattle on. With my grandparents considering selling their 80 acres of course my dad and I want it to keep in the family but cannot figure out how to make it work. Assuming they have the land and home appraised it could possibly be 600-800k I would think (rough guess have no idea). We cannot run enough cattle on this amount of land or rent out the house for enough to make the payment, obviously depending on sell price. 

So my question, what are some ideas to help pay for land that wouldn't be held as an investment per say but more to keep in the family to pass down? This is located in a very rural area in Oklahoma so I do not think building any rentals on it would be feasible, at least not considering a high purchase price. Ive considered if the topic comes up offering some creative financing options but its also my grandparents so I would need a deal that benefits everyone.