Alligator I currently do items 1 & 3 of your options. Not much in terms of cash flow but generates many benfits.
1. Property tax reduced for Ag use.
2. Reduces land maintance i.e.. mowing of pastures.
3. Feeds the family, grass fed beef quaility is umatched by USDA standards. I raise half longhorn/half brangus calfs and the meat is so lean you have to add fat to cook it. Incase any of you didn't know that grain fed cattle ain't healthy for you. Many places sell grass fed cattle in our area much better for your ticker.
4. Income tax deductions.
