Legacy Land - What types of land would you purchase to pass down?

[Pierre E.]

I am exploring the idea of buying land, with the plan to pass it down through family.  Has anyone done this? I know this may be an individual decision ultimately, but what types of land did you purchase, or what regions, or what characteristics and why?  

Farm Land? Lake Property? Mountain Property? Desert Land? Lots of Acres at lower cost?  Small lots in a prime location? Close to your primary residence?  Vacation areas? Areas that can be subdivided?  

[Bryant Brislin]

Land in the path of development that may seem a little far out, but your gut/intution and common sense from an urban planning perspective tells you that some day, whether it's in 10 years, 20 years, etc it will be a great long-term position for your family to have and hopefully sell at a signifcant multiple return compared to what you've paid for it. Land that is is between two MSA's is always good, as presumably those MSA's will continue to grow and everything else between them.