The farmstead itself is composed of a decently sized cluttered house, which you will need a key to get into, as well as an open barn building that has both a workbench and a fire barrel.
A few wolves and rabbits roam the fields from time to time, though generally only two or three wolves come close to the house itself.
Be aware that neither the porch of the house nor the open barn are safe from wildlife.
The keys to the farmhouse can be found on the dashboard of a nearby truck. The outbuilding nearby contains a dead body being ravaged by a wolf and a workbench. The body can be looted for the key to a lockbox inside the farm.
As well as a lockbox in the office of the farmhouse, there is also a safety deposit key (#15) located in the urn in the bedroom, but this cannot be obtained until Grey Mother asks Will to find it as part of the main Episode 1 questline.
In Survival mode, the key to the farmhouse may be found at various locations around the property, including on the dashboard of the pickup truck, tractor's floor or on a frozen corpse behind the farmhouse.