You'll find great hiking with swamp and lake views here in Waldo.
Two preserve entrances (one a County Road 1471 and the other at Lake Alto Park) multiple trails (Treefrog Trail, Lake View Loop and Black Bear Loop) had me confused at first without a map.
Keep things simple and park at Lake Alto Park (Google maps to both entrances at the bottom of the page) where there is ample paved parking and you can go down to the boat ramp for a nice view before and after your hike.
The first trail is Treefrog Trail with a very nice boardwalk leading over a swamp. I turned left onto Lake View Loop which leads to a small fishing pier at Lake Alto. Following the loop you can make your hike longer by taking Black Bear Loop, which returns you to Lake View, and then back to Treefrog Trail.
This series of loops leads you about four miles and I have it mapped below.
You will find great wildlife and scenery scenery along the way - I spotted deer and turkeys - with trails clearly marked. The dock is very peaceful and beautiful, with a great view of the lake and lots of texture along the shoreline. I'm going to go ahead and say you can fish here also ... I didn't see any signs or authorities to state otherwise, so there you go.