First bit of advice as mentioned here is you need to actually visit the place to start off with.
Need to workout what you are going to do once in Thailand so what are your interests hobbies.
Maybe look at areas that cater for that.
You really need to sit down and crunch the numbers on the income part to see if it's achievable.
As people have mentioned on here you need to basically have the 800'000 Thai baht ready to rock and roll to be transferred into a Thai bank account to be seasoned once that is sorted.
Also if you can hit close to the
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Thai baht income then it will give you a lot of flexibility and a good lifestyle.
I think another thing that is overlooked is what is your worst case scenario plan?
Meaning if so some unknown reason shit hits the fan can you extricate yourself out of a sticky situation if you have to.
Not saying it will but having a back up plan could come in handy.