It all depends on local marketting oportunities. I'm surrounded by horse farms, both hobby and training centers. I bought property with hay already established on it. A local farmer let me borrow a mower. I already had a 22 hp Yanmar tractor. Bought a scrap JD square baler for $350 and a rake for $500. I had my own horses that had been boarded when we lived in Ann Arbor. I had good engineering and mechanical skills all ready for the challenge. Started with 10 acres out of the 25 available. I sold my excess hay as "Baled Weeds" and the area horse owners couldn't get enough of it. I was zoned 'Ag' and along with a great accountant, I paid for the equipment in the first year. Used extra money to buy the borrowed mower. Since then, I've "trained" 2 local nurses to run the equipment, maintain it and enjoy the smell of fresh cut hay. They recently bought their own equipment the same way: buy auction junk and fix it.
So, the local needs are a driving the market. Having a TSC and a local JD AND NH dealer nearby are handy ingredients. Having good tools is mandatory. A tire changer is also a recommended item. Learning how to repair or change a tire is also a skill that escapes many locals. It's still a hobby to me.
That being said, I'd recommend you don't start with 100 acres. Start with what you can use and store in a barn. Outside doesn't work for my area.
Try to ignore the neigh sayers, you may not have their limitations, weaknesses, lack of help, and their other obligations. In this country, the tax exemptions and filings make it really worthwhile, as well as preserving the AG zoning. My property taxes are 1/3 of the neighbor's postage stamp sized lots and here in Michigan, selling Ag land with a homestead is immune to the huge jump in assessed value if and when you sell the property for 10 times what you paid for it. This makes the next owner much happier when they get sick of blue state policies, taxes, city life, HOAs, and trouble-makers. It sure kept me out of jail ! Here's my legacy ...
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