Country/Farm Niche?
So I'm closing on a fixer this weekend. 3bed/3bath sitting on 10 acres. About 2 miles from my house. I'll be doing some major renovation, and plan to re-fence the pasture for horses. I'm thinking it might be a good niche around here. I would put about $3000 on the fence. And probably get $100-$200 more per month on rent. Do you think it's worth investing on fencing?
I never though about buying rental property in the country (even though I live on a farm). But after finding this property on MLS, I keep thinking it might be a good niche. I remember I looked all over for a house to rent in the country before we bought ours. I would also think that tenants that bring horses will tend to stay longer, since you don't have many/almost none rentals with pasture, even though it may take longer to find tenants. I'm about 1 hour from Charlotte, NC, and 20-30 minutes from 4 smaller but growing cities.
Anybody out there with experience on country rentals? Any tips are much appreciated.