Avoid as many Rock out cropping as possible, they are TROUBLE, trust me been there done that. I like to look for some what flat bottom land, that dose not have standing water. Standing water usually means wet land. Also with flat land you can back up water easy with-out building to high a dam. 3 acre Lake? You want about 30 to 60 acres of water shed...Prefurable all on your property so you can control what goes into the lake...Look also for plenty of Clay close to where the dam is....
