What you're going to have to pay for the property makes issues like water troughs very minor.
I'd be more concerned about property taxes, zoning, and restrictions as well as current code requirements and what you'll need to spend to stay in compliance. Will the tax assessment change when you purchase it? Most of the time a sale will trigger a re-assessment and higher property tax as a result.
From my point of view it's very well thought out and a really nice place. Just make sure you can do the things you want to do with it well into the future without interference from government bureaucrats.
For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.