Is it possible to purchase with no or little money down, will it make enough annually to pay for itself?
Unless you have other paid for assets you are willing to use as collateral, you will almost certainly need a hefty down payment.
It appears you are not a farmer, so NO the ground will not pay for itself and is not a very good investment if you need to borrow a bunch of money to purchase it.
Here is about how it would work around me:
Buy 100 acres wide open crop ground, pay cash $5,000 per acre = $500,000
Cash rent to a farmer to raise corn / beans for $200 per acre = $20,000
Minus property taxes of approx. $3,000 and you net $17,000 annual income.
That's a 3.4% return on your money which isn't great, but that money is there every year, your efforts are minimal, it's very safe, and could be sold rather rapidly in a pinch.
Also heck of a lot better than you'll yield out of a CD, and the value of land should appreciate over time.
My first farm was 100 acres purchased 25+ years ago for $75,000 which was a good per acre price back then.
It has returned an average of $10,000 per year that entire time and is now easily worth $500,000
So it has paid for itself 3.3 times and is worth approx 7X what it was originally purchased for.