My apologies if this inappropriate...this is my second thread since joining and I'm ignorant of board etiquette.
I'm looking to buy some farm land that is being cash rented for the next three years. Before I decide to purchase, I want to make sure I'm learning something about what I should consider. Note: I have no farming experience and am buying the land for investment
I figure before I make an offer, I'd like to see the current contract for the rental agreement and probably meet with the tenant to get a feel for their present and future plans on using the property. (I've been told the agreement is for 40 acres at $175/acre; for 3 years)
Frankly, thats all I can think of. Surely there is something else I should watch for or consider. Would any of you out there be able to advise me on what I should know before I buy the property.