Learning how to properly evaluate a rehab budget is imperative to your success and there are many books and posts on this topic of how to do it - I have posted many on this topic in the past.Don't forget on your list windows/doors, trims (baseboards and door casings), waterproofing/protecting floor of garage, potential need to frame/or upgrade farming of exterior walls of garage (many garages have stem walls) and the flooring is often sloped to garage door so leveling the floor may be necessary.

I run a small organic farm and I can build 6 "cabins" for agritourism.

Commercial farming.  

We’re at or near record low foreclosures, you’re farming a hard row. 

I'm a local youth pastor in MN and I'm looking into getting started in real estate so that I can provide extra income for my growing family.

This allowed us to move down to rural Ethridge, TN where we bought a mini farm that had a guest cabin.

FINANCIALS:We will be selling our farm for approximately $3.25 million (this is 50/50, could be as low as $3MM and as high as $3.5MM) and we have $2 million invested in the property (house, barn, 46 acres, million $ view). 

I paid approx $100 mo for insurance on my STRs, both insured through State Farm.

We look for undervalued, farms that are not producing to potential etc. 

Now tillable farm land, different story, but we are talking improved real estate and that does hold trends and migration patterns that change the classification of neighborhoods over time.