a question to those that wouldn't pay that kind of money to play just one course:
what if it were a complex with a minimum of 3 complementary courses (maybe 2 if there are enough different tee options)? would it be worth considering then?
Very unlikely. Playing different courses is one of my favorite things. It would have to be substantially lower than that.
One overlooked feature is that "access" one and staffing - owner being tied to always be there, or paying someone to be there. or trusting an honor box and taking on a risk of bad stuff happening while away.
At the point you're turning a profit, it's a business like any other and you have insurance. As for staffing, I mean you get a high school kid on minimum wage most of the time. The owner spends quite a bit of time there probably but it's liek any other store or business.