Turning land into an income producing asset??

[Matthew Fortune]

I own 224 acres in a rural part of West TN. The property is paid for and right now all it is doing is growing trees and costing me in taxes. I consider it a liability at the time because it is taking money out of my pocket, and not putting any back in. Any advice on transforming all,or some of this property into an income producing asset? 

[Mike H.]

I've seen some guys with these large rural parcels that rent it out to hunters for them to hunt on.  Not sure what the insurance liability of that is but if you've got 220 acres in TN that are wooded, I'm guessing there are some fairly decent areas to do some hunting.  That would be my first thought.

If some of the land is suitable for farming, you might want to look into some of those farming programs where they pay farmers to NOT plant anything. 

Lastly, what about the trees? Any chance you've got a large chunk of mature trees somewhere on the property that maybe you could some someone come in and take?

Just curious, but what are your intentions with the lot long term?