First-Time land owner

I've seen / talked to people that have done all of the options you mentioned.

I would consider either a trailer or a shop / apartment.

The trailer is the easiest/fastest /cheapest (most likely) option. It will also give you the most room more than likely. The downside is, it will ahve practically zero value when you no longer need it.

The shop option will cost more and give you a smaller living space, but will still be there when you build a house in the future.

To me your timeline is going to be a big part of the decision. 5 yrs in a garage apartment? or 5 years in a trailer? or 1 year in a garage apartment?

If this is a place you intend to build a home one day I'd go the shop/apartment route. Are you single? If so then this definitely the route I would take. With this option make sure you know location on the property where future house will be so can position shop correctly.

I'd do a metal barn and have half of it as living quarters.

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Yes I am single. so as far as marriage goes, it wont be in my immediate future.

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You better make sure your pipes are wrapped tight when you go drill for oil.

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are you suggesting that he makes sure his blow out preventers are in a fully functioning state?

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yes, its financially prudent to spend some bucks now to double check for cracks and leaks rather than pay tens of thousands in damages

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rather than pay tens of thousands in damages

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your estimates are way too low.