You haven't told us who your partners in this venture are. It's an inheritance? Or whether they want to hire a complete novice to farm a million dollars worth of land. With 20 thousand dollars worth of old junk machinery? I gather from your post that you are committed to do some "farming". Keep your day job. Split the difference. Rent 200 acres. Farm 100 for 3 years. see how well you do. Talk to your tax CPA on benefits of depreciating new farm equipment. WOuld you rather pay the IRS taxes on 100k sales of crop or deduct it all for equipment? Meanwhile start spending your nights reading the various state ag .EDU sites , watching RFDTV and hangin out at the truck stop where the real farmers go in the winter.
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Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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