I would recommend an umbrella policy for any RE investor that has enough wealth that it could not be recreated in a small number of years.  

It's a decent enough place for Houstonians to get away for the weekend once or twice a year and have a good time, but it's lacking really great restaurants, 4-5 star hotels, and recreational activities.  

My wife and I visited Texas last Summer before moving and checked out all of the major cities and a couple smaller ones we liked, we settled on Dallas because of the mix of recreational activities, weather, and price point on properties in the surrounding suburbs (also lack of Hurricanes).

$155k distressed property located near a popular family recreation area. 840sqft, 1brm, 1bath; therefore, good as a vaca rental rather than a home (currently).

The property has direct access to Dupont State Recreational forest (a huge mountain bike/hiking/horseback riding area) and already has 10 miles of trails and a Pump Track that was built by Red Bull.  

We are even in a state that passed a law to allow the use of recreational marijuana.

But then that gets to the what is the difference between 1 'glamp' space and a 'outdoor recreational' use for a campground etc...In other words the devil is in the details...and the specific location. 

Driving for dollars, yellow letters to absentee owners and networking will be key.There are other opportunities for recreational land too and I have dabbled in that space.

Most faculty and students are part of the church and will not tear the place up.Also nearby are the San Bernardino Mountain communities--Crestline (local County lake for non-motorized boats, recreation and swimming, forest and hiking trails such as to heart rock) , Lake Arrowhead (private lake, allows boats, -make sure the lot has lake membership, some tv stars have vacation homes around here), Running Springs (closest to Snow Valley for skiing), Big Bear (Lake and close to skiing, but more expensive property). 

School rating, crime rating, proximity to employment, shopping, and recreational centers, etc..