Share cropping with a retail farm stand/farmer's market is one, if it's the right kind of land in the right location. 

Scaling quickly, cash flow, appreciation, location/staying local, self-management, etc.

Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

But the diversification may be through a number locations of the same type property, as expertise in one area trumps diversifying into areas where you lack a competitive advantage.  

Maybe it's property location.

Where is the property located?

I am a realtor in the Albany area, our office located right on Western Ave.

Hello BP Community, I am located in Capitol Heights, Maryland.

More and more insurers are refusing to cover disaster-prone locations.

But, regardless of the location, Hawaii always has been and always will be a popular, year-round tourist destination.