well said Chris.
#2 occurred down in the Lehr area when I used to work down there. I believe the guy was a Dr. in Ohio. He outbid a 24 yr old trying to save his family farm. He needed that 320 acres to really make things jive on his income level. Afterwards he asked if he could at least rent the land. Dr. said "no" and put it into grasslands/CRP.
The locals shunned him when he showed up to hunt. When ducks/pheasants weren't on his land he couldn't get permission to hunt anywhere else. Everyone around him posted their property which they didn't do prior to that (which was everyone's loss then).
On top of that they made his life *ell. Anytime a noxious weed was spotted on the property, the local farmers ratted him out to the weed board. He eventually put the property up for sale.
My uncle had the same idea you had. He bought 160 acres of CRP in central ND. Figured it was a good investment and he wanted a place to shoot a deer every year. He didn't realize it was infested with Canadian thistle and leafy spurge. He was spending $3000-4000 each year to control his noxious weeds (there are 11 listed on the state noxious weed list and the law states you have to maintain annual control of these weeds with an eradication plan).
There is alot more to owning land than people think. My wife has 450 acres 45 miles from us. I am amazed at how much time we have to spend there working. There is always something that needs to be done (I am still cleaning up after the wind storm last July and I dropped $1000 on a new sprayer to control a small patch of wormwood we have on the property).
Hunt to live, live to hunt
If you can't ski with the big dogs, stay on the dock.