Brett -
One consideration for the lakefront homes would be an easement from water's edge back 10 to 15 feet to be in perpetuity so that everyone who resides in the development has shore access to either walk the lake, snap photos of the watersports on the lake from any angle, pull ashore if they have a need to, etc. Whether you put in an official walking path around the bodies of water or just leave that space grass you might consider this. It would of course include a clause that would prevent the residents from obstructing this space with either landscaping, fencing, etc.
You might also consider contacting wakeboard parks such as Terminus here in Georgia, regarding the removal of dirt, insurance, etc. Terminus built on a field and has three bodies of water, a beginner track with an aqua park (think jumpy houses on water), an intermediate track with obstacles, and an advanced track with obstacles. You can wakeboard, kneeboard, or waterski the intermediate and advanced tracks.
