I would need to probably include farm profits in my calculations because the hope would be to eventually farm full time, but also supplement current income till I can move to farming full time. 

Some people don't include the repairs in the first year Cash on Cash return however, not sure what the BP one does.You can look at your 'stabilized' cash on cash as well using ProForma numbers and estimating the rent and expense growth over the next X number of years.  

Particularly be sure to include your goals for real estate investing so that folks can help you. 2) Follow your favorite forum topics and set up keyword alerts!

We buy, fix, flip and manage and leave no stone unturned when looking for deals.We negotiate hard, buy with cash and close quickly.Gotta buy cheap in order to make margin but still deliver a turnkey property to investor at fair market value.I've always believed in "making money when you buy and not when you sell".So it's important to buy cheap.A strategy that I always tell all of our buyers when investing is to always "underestimate income and overestimate expenses".If you think it won't happen to you, it will and you can't go wrong including a margin of safety when predicting expenses.I hope that helps 👍

Participation in actively managing the property, in addition to other factors, changes whether or not losses from a rental (losses that may include bonus depreciation) can be used to offset non-passive income (W-2, 1099, etc). ...

I would add the following: - Real estate is a long term game.

As the owner of the land and the builder, would I be able to include all my expected profits with the cost of the land and then build "at cost?"

I know many that have purchased many in Cleveland / Akron never using a realtor, including myself 

I’m new to the game and I want to connect with other wholesalers that have some skin in the game and can mentor me. 

The plan includes upkeep, repairs, and unforeseen expenses.