What was the name given to farms that were typified by large scale, sometimes corporate organization, absentee owners, professional management, mechanization, and specialized production?

The name given to farms that were typified by large scale, sometimes corporate organization, absentee owners, professional management, mechanization, and specialized production are called Bonanza farms.

Bonanza farms:
were very large farms, They conducted large-scale operations, mostly cultivating and harvesting wheat. Most bonanza farms were owned by companies and run like factories, with professional managers. The first bonanza farms were established in the mid-1870s in the Red river valley in Minnesota and in Dakota Territory.

Bonanza farms developed as a result of a number of factors are:

• The efficient new farming machinery,
• Cheap abundant land available during that period,
• The growth of eastern markets in the U.S., and completion of most major railroads between the farming areas and markets.

Development of machinery:  Large-scale bonanza farming was aided by the development of machinery that greatly increased production, especially of wheat and other grains. bonanza farms became highly profitable through the use of new machinery and huge crews of cheap hired labor.