Prior to moving forward I wanted to leverage this community and gather any suggestions, feedback, or ideas on potential different passive income approaches with the land that we own.

This is just how I generally approach these issues.

Is this a logical approach?

And how can I approach him?

What will be your approach in the market we are in? 

It is worth it when you approach it from the right angle!

I assume she has no experience in real estate so leveraging money in real estate with new found money is an incredibly poor idea.

.,) (4) separate your assets from your operations [operations contain the most liability,] (5) introduce layers of anonymity to hide your assets from prying eyes.I approach these issues from the mindset of being an investor myself, so it all has to come together in a way that is profitable.

Anyone with insight into how to approach these?

I would recommend moving into your next rental option, or as many call it "House Hacking" A lot of people are saying that we are approaching the top of the market and if those people are right then any medium to high-risk investments could go upside down.