You mean they make 18-hole courses?
Matt -- As a Nebraska boy, I can vouge for the 9-hole variety of golf. Heck, I'd venture to guess that about 75% of the courses in the Cornhusker State are of the smaller variety. The mostly involve a farmer who donated land, Mr. Anonymous, some tractors and volunteer labor by the folks in the town to build it. That, right there, is a cheap business model.
Jason and Alan, mentioned Friend CC in Nebraska which I have a dear fondness for because some folks on my mom's side of the family helped to start the course in the late 60s. Many other wonderful tracks go down Highway 6, including, Milford and Sutton.
I think it'd be a great business model if you could build 9 (or 10) greens, and 18 sets of tees so that some holes can be played differently if you wanted a second trip. And, especially in a metropolitan area, you could really distinguish yourself with a wonderful practice area and maybe even a three holes in the 50-100 yard range for juniors. I'd think you could do this on 75 acres pretty easily.