Thanks for all the replies. I put an offer on a property that could have a mix of commercial/recreational opportunities. Based on details I learned recently, the leading commercial opportunity isn't going to work. I can't go into detail because I know a competitor for this and another site is on TexAgs. Since this isn't my dream recreational property, I pulled my offer. I still think it could be a good investment, but I'm not going to lose sleep over this property.
It's a pretty area with good access to utilities.