8 acres of land

[Dan Sibilev]

Hello BP community! Hope you are doing well. All of you are just an amazing bunch here on BP. I am proud to be part of this community and journey of RE. I am just starting out and wanted to get expert feedback about a deal that I came across. Thank you in advance for your time and replies! 

I have a chance to buy 8 acres for 20K in a rural area in the Pacific Northwest. The property does have a river that runs through it. It is a wooded property with electricity already on the property. 

1. What should I be on the lookout for and what questions should I ask in analyzing if this is a good deal? 

2. And any ideas how I could put the land to good use if I did buy it?