Have an idea of what you want to build and talk to a/your builder and dirt guy before you buy the lot. I can’t count the number of times I’ve seen people in these situations but a lot and not understand setbacks and what can actually be built on a lot. Type of foundation? Slab on grade, crawl space, walk out basement, etc. does the lot lend itself for what you want? Yeah you can do site work to make things work, but will local regulations allow it and are you willing to pay for it?
One of the biggest ones in MN is where is the neighbors well? Now where is your well going to be? Now triangulate the septic setback of both, as well as the setback from the lake, lot lines, house, buildings, etc, and this is where the septic can go. Many a time the well driller backs his truck up, drills the well, and doubled the cost of your septic because now the drain field has to go in the most difficult place when he could of moved the truck 50’ and it wouldn’t of made a bit of difference to them but they got their first.
What’s the situation on the access road? Is it right on a state or county road or is it an unincorporated shared access? The biggest pain in the ass on earth is dealing with a half dozen people with lake places on an unincorporated shared drive way that need roadwork done. Not going to go any further with that one, but if you know you know
Take out any trees that could come down on the potential house before it’s built. Don’t save every friggin tree if there is the potential it’s coming down in the next 10-15 years.
Those are the ones that come to mind off the top of my head. Everything prior to this was pretty spot on as well, neighbors are nosy and your family and friends are free loaders, but once you get beyond that it’s bliss.