What's the environment like?
No matter how you intend to develop your raw land, you'll want to know it has the basic necessities and a comfortable environment. Smells from landfills or other industry could dampen the fun at your water park. Noise from airports or traffic might compromise a gated subdivision. And trash cluttering the land would definitely ruin the ambiance of your weekend getaway.
If there isn't a power plant within a reasonable distance, you will have to pay the cost of running cables across public lands to get hooked up. Depending on your financial resources, this could be a deal breaker. Be sure to call the utilities and find out before you buy.
You'll also want to know if there is sewage disposal or if a septic tank is required, and whether there is trash pick-up or must other arrangements be made. Other important services include police and fire protection, hospitals, schools, churches and mail delivery.