I have recently learned some lessons and/or made some observations about how some sim owners split up their land, more specifically in island sims.
Many estate owners provide public water space between island plots of land. Many will divide up their sim using actual public space between islands. (if you view property lines you will see a small area between plots that you cannot own or rent that is set aside as public area) This keeps people from terraforming or having items sit on or over those areas and keeps islands nicely separated. This is the type of setup I prefer.
I have seen some skip the public spaces and run just one property line between plots. They then create a public waterway by using up (by lowering) some of each plot, then request that you do not reduce or allow objects to sit in the public waterway. This seems ok, but what it can do is trick you into thinking you will get a 4096 plot of land (for example) when you are actually getting less land because you are donating to the public waterway. I have even seen SIMSs that take quite a large chunk of land away by doing this. (I saw one that appeared to have lost around 1/4 its land mass to public waterway).
While you are technically getting the land you are paying for (or renting) and certainly you get the prim value, it seems like something people might not be completely aware of when making their decision. I got burned because I knew exactly what land mass I needed only to find much of it had been trimmed for unrecoverable / unusable public waterway. Add to this the idea that many plots are square to begin with, so to give them any character at all you end up further reducing your land mass.
I guess the lesson I learned is to really watch where the property lines are drawn and what the covenant contains and not just rely on the about land details.
I'm not saying its a rip-off or scam necessarily... just that a person really should inspect what they are buying or renting to be sure they are getting exactly what they need. I guess this goes without saying, but for me this one seemed so easy to miss.
If anyone else has similar tips please post... I'd be interested in not learning these types of things the hard way.