This is one way to get started in rental investing, but it's not exactly going to give you experience that translates well to the greater RE markets. However, I have seen many families in the countryside do similar things, so it's certainly not an unheard of method. An additional advantage of doing things this way is, if you want the property to stay in the family long term, the tiny house in the back of the property could end up your empty nest house once the kids have grown up and one of them has taken over the big house & the management of the property. The only thing else I would mention, be wary of taking out a loan right now; and make sure there is a market in your area to actually cover the $300 per month you would need to make your fiscal goal. $300 won't sound like much for most of the urban dwellers on this forum, but there still might not be a market for it, so be certain.