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. 

Your other assets are mostly in creditor protected entities, such as retirement accounts, personal residential homestead; and what’s not is heavily mortgaged, or exempt by Federal bankruptcy law.

Look for properties that require minor renovations or improvements to increase rental income and property value.

Generally you want to be closer to break even if you are in negative cash flow, but if you have good income this could still make sense.It's also really important to make sure what you are getting into when it comes to condos.

Turns out their total monthly income is too low ($600 shy of 2 month's rent -- we require it to be at least 3 months). 

Full details on the project are available including project description & costs, 3-year income/expense spreadsheet & photos. 

As long as you are not understating any type of income - and I am taking vary broad view here - - and you are not, overall, defrauding the US Treasury.  

This upgrade may also increase the property value and attract higher-quality tenants, ultimately leading to higher rental income.

For context, I am a doctor with a stable income and was able to put 20% down comfortably to avoid insurance.

Investors can anticipate potential monthly cash flow income that may be tax sheltered using depreciation.