We improved it over the 5 yrs we were there, and when we PCSd we sold that. 

I would like to allocate as much as possible to the farmland improvements in order to claim depreciation and as little as possible to the personal residence and farmland.

It seems strange doing this remotely,  but she's confident that it could be done. 

I figure that's partly due to the recent drainage infrastructure improvements made in that area. 

@John Warren thanks so much, that's where I've landed at about 90% confidence, the only "issue" really is my impatience, so I need to be more disciplined.

Your friend could then work on improving his credit profile so he would qualify for traditional financing.2.

Once i have proven to myself I'm made for this world and feel i have the confidence I can try out something else.

However, it is important to recognize the risks and making a good decision, so you can move forward with confidence in your future investing.Hope this helps - this is not legal advice, simply just my personal opinion and approach to the topic.

Over-improved yard; Too low on rent amount (initially concerned with getting renters in, neglected cash-on-cash return) Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Assuming you could qualify for an investment mortgage now (maybe a big asdumption) or that you could find a seller finance deal, buying cash flowing rental real estate will actually improve your debt to income ratio and net worth.