arod, the most important thing you should be looking for is a mentor, someone to show you the ropes.
It takes more than a big smile on your face and a 100HP tractor to "farm it."
Using the farm as a tax shelter and writing off a bunch of shiny new equipment is a nice idea, but that's assuming the crops are going to turn a profit. What if it's a bad growing year? You get to watch the equipment dealer load all your shiny new equipment up and take it away while the Sheriff stands next to you with his hand on his gun.
Not only will they load up the equipment, they'll load up your dignity, and your credit rating.
Even if it means giving Uncle Sam more than is absolutely necessary, stick with the plan of using equipment that you can afford with minimal proceeds from the farm. Odds are your first crop won't be optimal even if the growing conditions are ideal, because you don't know what you're doing.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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