However, there is a loophole that states employee housing is allowed.I could use the help putting up fences, clearing snow, haying, feeding horses, etc. anyway.  

My goal is at least 10 because we have horses.4.

It is on an 85 acre horse boarding farm, the house is about 5000 sq. ft, and would rent (when fixed up) for around $4k/mo.

Hold your horses and don’t take this as gospel just yet.  

I will quickly beat a dead horse and agree with what Chris and James both said above.

@Sylwia Leczycka If you will manage the property yourself, I would go for option B for a few reasons: 1) If you live on the property you can have access to mortgages that require less downpayment (FHA, USDA etc);2) Living in the property should make your life easier as a landlord, since you would not have to drive for hours, at night, during winter (just to make things worst) in order to see a small plumbing issue they are having;3) I also believe that tenants would tend to be more respectful to the rules if the landlord is next door;4) As the saying goes: "the eye of the master fattens the horse", so another plus of living in the property;5) If you have a condo you would have to deal with the HOA which, sometimes, do not make things easier to landlords (I've had some experience on this one).Hope it helps you.Just as curiosity, which areas of NJ are you looking at?

The executor of the estates parents built their wealth from the property as a horse trainer and equipment mechanic.

The executor of the estates parents built their wealth from the property as a horse trainer and equipment mechanic.

I think you are putting the Cart before the Horse.

Not to beat a dead horse but I agree with those opinions.Now to other items:  I do not know about going the country club route, but in San Diego we have Meetups that are designed to match those looking to lend money with those looking to borrow money.