Ongoing demand is dependent on the following factors:Sustainable population growth (no boom towns)Increasing job quality and job quantity (measured by per-capita income growth)Little or no urban sprawl.

My dad once said 95% of the population get a job and never even think of doing anything on their own, 3% will think about it 2% will actually get off their butts and do the WORK required.  

They have a population of about 18,000 persons.

PS: I've held land before and didn't make any money, and I live in a reasonably populated area.

I always recommend checking the VR comps (check calendars, rate sophistication, review counts and listing population) and checking the LTR rentals around.

Keep in mind that a lot of these projects have restrictions that do not allow use as a rental, so if that is the case be careful that you only have 1 exit option, and on top of that are restricted to the 55+ population (meaning a lot less potential buyers).

Real estate agents have a tremendous failure rate, at any time there is a significant portion of the Realtor population on their way into the business and generally an equal amount on their way out

Jobs and increased population drive local real estate and unique real estate plays.  

It just needs to have a diverse economy and a growing population.

It seems they work best in larger population areas, but recently I've seen some pop-up in smaller geographic areas that share characteristics with where I am - Bozeman, Montana.