I know of the type of 5 acre lots you are talking about, and I was thinking of buying one. I know one guy that owns two adjacent lots and he says he can go out and shoot any time, as his neighbors are OK with it, and he has an embankment to use as a backstop. You have to know that your neighbors are OK with shooting, embankment or not. You never know when someone might come hiking or hunting downrange. Another couple I know owns a small lot like this in Hardy County, but they are from Northern Virginia, and not hunters. There are people like this buying land we all would love to hunt on, then they don't allow any hunting and would complain about shots fired their way.
I was looking at some of these lots online, and wanted to go out and check some out to see if they would be suitable for shooting. It's a great idea, but I would be very hesitant to buy land together with anyone, even family. Consider if you got 5 guys to buy in, and it's wonderful for everyone until someone either dies or wants to cash out. Or one guy can't come up with his share of the real estate taxes for the year, so you have to pay his share no matter what. Lots of real estate ownership issues to consider.