In my case Defuniak would be too far north. I need to be in the "Choctawatchee Watershed". I have heard differing views of where this actually extends - as far as Alabama by some - but I have been told by the FL DEP that I should look to be south of I-10 for my needs.
Correct, it has to be in the same watershed. Sometimes there is simply no land to purchase in the same watershed, or the person owning the wetland doesn't want to sell. That is why mitigation banks came to existence. It is just easier instead of frantically trying to track down wetlands, having to contact the local WMD to review (for $$$), etc.