And most of those free and clear owners didnt just mortgage the 1st 160 to buy the next 80 at $20,000/acre. When that transaction happened, operator had saved 
30% for down payment(maybe, takes along time to save 480 grand and pay the taxes). He/she also just put $4700ish an acre lean against the whole 240. Now that
dont sound to bad at 3.5% interest, but stub your toe and uncle banker bumps the rate to 8%, prices stay in the toilet, and then you lose 3-400 acres of the 'pay for
other things with it' rented ground. Pretty quickly things that looked good in 2021 can keep you up nites in 2026. Again just syin.