It has no employees and I intend to sub contract the property manager to a 3rd party.

Hi James,Being an "Acquisition Specialist" who can't find deals that meet your employers requirements must be tough.But this part is a numbers game, such as sift X potentials = find 1 possibility to look at closer.

I was in the same boat last year.

Hi Jean,Stock it with fish and have fun fishing all summer.Plant wild rice and maybe Ducks will show up--beautiful creatures to watch, and some people hunt them.Build a dock and toss in a small row boat....for romantic evening rides and something for the kids to play with.[1]>>> Have it tested for chemicals...some of these ponds have a years of farm runoff in them--pesticides and manure--it would be a shame if it's toxic.[2]>>> See if the sides go straight down (like a farmer scraped it out for whatever reason) and it would be dangerous vs. like a beach.Good Luck!

I am in a similar boat.

I think the pulley might be related to the tenant’s boating/fishing hobby (his boat is permitted on the property).

If the business was to go under, your personal assets (cars, home, boat, etc.) would be safe. 

I am in the same boat as you right now. 

There are three parties involved:The grantor or settlor, who creates the trust and transfers property ownership to it.The trustee, who manages the trust according to the specific wishes of the grantor or settler.The beneficiary, who stands to benefit in some way from the terms of the land trust.As the grantor or settlor, you would decide which real estate assets should be transferred to a land trust and what terms the trustee must follow in managing those assets.

I'm in a similar boat.  47 and just started looking for the deals several days ago.