Your thoughts are very close to correct.  Continue to modify and adjust thinking just a little.  The old saying Slow and Steady wins the Race is still true.  The tortoise still beats the hare.  Many have tried to violate that thinking.  We have seen making the cover of Farm Journal being a curse multiple times.  Move that to having a reality show and well.  

I categorize expenses into four categories.   Operating, Capital Purchases (machinery/cows), Family Living and Land.   The first two are tax delectable that makes them easier than the last two.  Family Living on many farms is covered by a non farm job not taken out of the actual farm dollars. For a long time one person in the family had to work off farm just to get health insurance.  That cost has always kinda been proportionate and a burden to self employed.  Lastly Land these have to be paid with after tax dollars.  In many cases that's 130%.  This is why land is so challenging to build into a growing operation at a young age.  (The ability to utilize 1031 really helps in this area)  That's why buying something that really does not fit can be of value.  

On a similar subject was at a farmer meeting last night that talked about land and said it had three values that most farmers do not recognize.  This got my attention and made me think into the future on Land in a farmers portfolio.  

He said land has three income streams.   Really what.......

Production income/ Cows or Crop

Asset Appreciation

Carbon Sequestering

I really had never put two of those in short order and placed a value on actual Appreciation as a true income source. And while the last one Carbon Sequestering is yet to be determined how much value it might be.  Land does have the ability to store and produce carbon.  Should that market continue to evolve which is a big question, it truly need monitored.  I really wish we still had input from Mark Wright he laid the ground work for this discussion years ago.  

Keep up the good work Agriculture need all the youth we can get.