SD-
When I eventually inherit like 1/3 of my grandparents farmland (NW KS) how should I "Rent" it out to the local yokels? Flat fee every year? Take 1/3 of the cut? Pro's and con's of each?
Non irrigated dryland farming, assuming my uncles don't screw my dad out of his share and assuming I can screw my sibling out of their share I could eventually end up with UP TO 3 quarter sections. So like almost a square mile from what I understand.
Keep in mind that the land will be held in a LLC that will never turn a profit, everything will be spent on "Expenses" like a HUGE F-250 Ford.