@Lauren AlpertReturn the security deposit, roach infestation is not habitable.

If there is a dirt floor in the basement, be aware that the excess moisture can rot out the floor from the underside and can be more prone to pest infestation from burrowing. 

The ugliest thing I've had to do, as a landlord, was deal with a 4-apartment bed bug infestation.

I came to find out that the house was on a drug infested block, with boarded up abandoned homes next door.He said that the appraisal was off because they used the wrong comps and urged me to get a new appraisal with a different appraiser.

Not to discourage you, but we live in a shark infested investor area with a lot of transient tenants (higher ed/ medical) that drive investment prices. 

Foundation issues, massive infestations (roaches, bees, you name it), rent set at thousands of dollars below the surrounding market (we haven't had a single vacancy during the pandemic because our prices are recession proof...but also operate on permanent recession profits...), and he rents almost 80% of his units to section 8 tenants. 

Note: the large rotted tree stump in the backyard near thehouse has active infestations of wood boring beetles.

If I was to go a few hours outside of Wichita, it seems it may be possible.Yeah it depends on what you want.  40-100 acres really has no scale to make any money off of it.Also land within an hour or so of Wichita will sell at rec or development land/small acreage prices - and not to it's true value IMO.Crap land around where Iive in Topeka in between Topeka/KC will sell for 8-10k plus an acre for a cedar infested wasteland that needs Multiple $ks worth of development or a lot of hard sweat equity to get it developable.

Biggest obstacle was a major termite infestation (which we knew about going in) that had to be dealt with.

This included putting the residents up in a hotel for 3 nights while the electric panels were replaced and treated for bed bug and German roach infestations.