But you still have the financing trick to solve.   

With only 2 stalls, you will have to find a cost effective method of waste cleanup, feed delivery and feeding.Knowing nothing about horses, is probably not a good thing.They need daily feeding (they eat a lot--they eat like a horse), lots of water, exercise and waste removal from their stalls and from the property.They are living creatures that need daily care, with temperaments that can vary by the day.In my experience, the owners are not out cleaning waste, and feeding every day, that in my experience is handled by the stable.Lunging, clipping, washing, training for tricks and etc...as well as riding is done by the owners.To me its more of a business than an investment.Just my 2 cents.

Looking to get opinions on this, also any tips and tricks of RE Investing in general would be greatly appreciated. 

Job offer letter or a single paystub will do the trick with a lot of lenders, in this specific case. 

This little number is the heart and soul of any property's financial health.Formula: NOI = Gross Operating Income - Operating ExpensesCash-on-Cash Return: This isn't a fancy boomerang trick.

Also, is there a "trick" to it?

My buddy just recently went through this with a "professional" tenantthey kept using every trick in the book to rxtend and extend. 

So a Fiat Lux is therefore a tricked-out Fiat Uno.

I’m wondering if anyone has and tips or tricks to help us avoid making any costly mistakes?  

To add to all of the great info already noted above, if you're interested in starting from scratch, building your own model, I recommend Udemy courses from Justin Kivel... great instructor, teaches all kinds of shortcuts, tips, tricks how to be more efficient.