Thanks to Wayne and Denise for responding,@Denise Evans , If I have a tax deed on vacant land, that the title has not been quieted and I put a fence up around it to house live stock, is that considered an improvement?

I spent an entire year working in Sedalia tuck-pointing the old brick livestock buildings of the the State Fair Grounds.There was an excellent little BBQ shack there if I recall but that was back in '95

I use to buy and sell livestock, done woodworking, flipped and few cars and still currently flipping trailers car trailers etc.

possible advantages: are lower price point (rent), quiet, safe neighborhood, close to groceries, and local college, and option for horses/livestock on property (county not city);   risks:  vacancy for ???

If Peter had that much confidence in his ability to help me make millions and give him half of it, he wouldn't be begging me for crumbs.All reading this should steer well clear of Peter Vekselman, or, for those convinced that he is legit, please send me $2,500 and I will send you my special elixir that I guarantee will have you sporting certain body parts that will embarrass livestock.

Given the fact all of the other houses around me are on acreage also and have livestock - I'm not sure this area would work 'yet' for retail/restaurant - but this is what my crystal ball is wondering.

I currently own a SFH rental in MI, have bitcoin gains, own dividend producing livestock in Africa, and have several other alternative investments and want to make sure I am taking the most tax advantageous approach for all of this. 

Your end buyer will reverse engineer it to determine what is highest and best use whether that be hunting land with a shack or farmhouse with livestock. 

I got started thinking about real estate investing a few months ago because a woman I rent sheep from (I have a peculiar hobby of training dogs to work livestock) told me that's what she did and had me read Cashflow Quadrant.

It is great farming soil and a great place to keep some live stock.