Also, there are other costs to consider when doing these other strategies. 

Value add, which means a non-performing asset wouldn't even achieve a yield on cost of 7% after rehab and brining it up to performing status in Dallas.

Also, we plan to make the farmhouse and growing building/s nearly net zero, which will lower cost of utilities to zero.

Renovations are high cost items 

Do I need a *business* checking account to accept rent payments and pay for maintenance/repair costs as they arise?

Now they're paying the price, plus double closing costs and taking on additional risk. 

They might cut corners on essential structural or system repairs, leading to hidden issues that can be costly to fix later.2.

It will be self managed, I will be near the unit (less than 5 mins away) to clean and take care of any issues.My numbers:Approx Value of Home $240-280kCurrent monthly cost / $860 mo (mortg,ins,tax)Utilities / $250. mo (elec,gas,water,trash,internet)Cost to run as AirbnbApprox monthly cost with STR insurance ($250/mo?)

But in analyzing the numbers, my market it looks like I can pick up land for 35-45k, moving cost 15k, purchase of an older home and rehab 50k.

Maybe someone else can chime in on what those costs could be now.