Mods, please forgive the post location if this isn't appropriate.

I have recently come across a good deal on land in central Illinois. Problem is, I'm not sure if I can afford 2 mortgages myself and am asking for advise.

Here's the deal:

40 acres, mostly timber, a few acres of food plot, with a stocked pond and a creek on the property. Also has a 10 year old single story 2 bedroom 1 bath house. Asking price is $120
Thats only $3000/acre with a free house the way I look at it.

So, should I go in total debt for a 2nd house which I don't need? Or try to find 10 other guys to each come up with 10K and start a "Bow Only" club. Or - try to lease the land for a couple of weeks a year at an outrageous price?

Does anyone here have experience with this sort of thing?