I've tried to make the math work on timberland, but timber prices are too low. Long-term flipping seems like greater-fool-theory investing. Buying timberland on the outskirts of cities to cut and subdivide worked for a lot of investors for a while, but this is a bold bet on a trend of increased suburbanization 20 years from now and you'll pay a lot more for land close to any development. Rural land prices in my area haven't changed much in my 20 years of watching, which is a disaster in terms of inflation. You can buy very rural timberland on a hillside for $1,500 - $2,000 / acre in much of the South.
Scenarios in which inflation occurs probably involve people having less purchasing power to buy these exurban "ranchettes" and "McMansion" that are driving land investment right now. It might also involve a weaker dollar (unless lots of other nations are competitively devaluing), which means less money from timber exports.
Throw in closing costs, localized risks that can't be diversified, illiquidity, property taxes, the risk of timber theft, and maintenance (posting, trash clean up) and you have a high risk, low potential return investment, with no inherent certainty of inflation protection. Plus you are competing against professionals.
Speaking of, why not just buy WY, PCH, RYN, and CTT. (Note: They're all struggling)