That part of the country is pretty arid, and water is often at a premium, usually a new well requires a permit. I'd be checking for old capped oil and gas wells. Also for any pipelines buried across the property. Property is priced due to the location near Devils Tower, check 50 miles further away and see the price go down. Covenants near a town of $400 ? Again location, location. Would think fire danger is a high risk around there, with fire protection so far away. The altitude also contributes to longer and colder winters.