What is the best farm animal or produce for a small hobby farm?

Sounds like you live in Ohio as what you describe is the definition for a farm in Ohio so you can qualify for CAUV,

For animals I would go with Cornish Rock Cross chickens on pasture. They are ready for slaughter in 4 to 8 weeks and you can sell them for $5 a pound for whole birds (more if you sell parts). if you raise and sell around 250 birds you should easily make your quota. Do not get rare breeds for meat as they are a very very hard sell and take 2x longer to get to table size, cannot be fried, are strange looking.

If you want to sell as Organic you must know and follow the USDA Organic rule which among other things means feeding certified Organic chicken feed which you cannot buy at TSC or the vast majority of feed mills in the USA (I know in Ohio there are 4 farms that have such and you cannot find it through any commercial sources). i find selling chicken products as pastured and local has as much if not more impact as sell certified Organic

Strawberries would be the produce variety i would go with. a 1/4 acre of June bearing or everbearing strawberries ought to easily net you $2500.

Now all that said none of this stuff sells itself, you will need to find an outlet for your goods. I suggest a farmers market as on farm sales, unless you are ready and will to advertise your far and have a building of some sort in which to conduct sales in order to get people to your farm. What ever you decide do know you should have your market before you grow the crop.

Chickens. Get some rare or endangered breeds. You can free range them and sell the chicks as rare breed and the eggs as organic. Some of the rare breeds feathers are also worth selling to crafters. Do some research on the different breeds, some are beautiful and it’s a really fun hobby. They also keep your insect problems to a minimum.