I’m considering buying farmland in Missouri for a variety of reasons. I won’t farm it or live on it myself, but might build a home on it in several years. I could rent it to local farmers or (more likely) put it in CRP. This would be rural county property. What pitfalls or issues should I worry about that I haven’t considered?
I’m only somewhat familiar with CRP…govt. wants to keep the land fallow for erosion control or other reasons, so enters a contract with the owner to pay for keeping it fallow. I don’t know what activities are acceptable or not on such CRP land.
I expect there aren’t any building or use restrictions from the county, but I wouldn’t know. I plan on asking real estate agents these questions, but I may be ignorant enough to not know which questions to ask. Enlighten me on topics that I should be aware of to ask the agents.