My suggestion is to work with a local investor out there and learn the model by helping them to find properties first. 

The "2 of the last 5 year rule" in U.S. real estate allows homeowners to exclude up to $250,000 ($500,000 for married couples filing jointly) of capital gains from their income when selling their primary residence, provided they meet two criteria: they must have owned the home for at least two years and lived in it as their primary residence for at least two years within the five-year period ending on the sale date.

The answer to those questions varies significantly depending on the type of facility (open, covered, enclosed, mixed), geographical location, competition, and local laws. 

Communicate Clearly: Have a formal meeting with the tenant to discuss the issues.

Aim for a $75,000 ARV to play it "safe".As far as private money you would probably have to find someone local that knows the area and wouldn't have a problem taking ownership of a property like this if things go sideways.My guess is you'll have a tough time finding an individual that wants to loan on it. 

Delusional NY Giants fan as well, my screensaver is DJ.Nice to meet you all!

To get a crash course in tenant screening and local tenant landlord laws I'd recommend going to a local REI meet up. 

@Lee GierszewskiYou make some good points.You know I called every brokerage in town a couple of weeks ago to figure out how local investors are getting together and networking. 

I’m local to Cincinnati & Dayton OH, I’m looking to partner up.

I'd be more than happy to answer any questions you may have whether it be about local or long-distance investing.Mike