With my wife retiring from Active Duty in a few years, and me being a 100% disabled veteran with huge tax breaks in our state, we want to make our way into real estate investing.

We wanted to wait a couple years for the market to possibly cool down, save a good chunk to pay for our first deal in cash, and her retirement so she can focus on this venture. I have been recently talking about buying some land near our subdivision home to put a metal barn on to house my toys, and she had a great idea - buy the land, maybe 5 acres, put a mobile home or two on it, rent them out, and basically let it pay the note on the land, and maybe even some of the barn.

What is the viability of this? Has anyone done something similar. We're in OK and land is still somewhat cheap where I am. We thought this might be a way for us to pull the band-aid off and make a deal.

Thoughts?