Well -- plenty of family associations have had memorial markers placed in cemeteries where some descendants were buried, or in a cemetery on the land where an ancestor is believed to have lived.
After all, huge numbers of graves were never marked.And agreat many folks before ca. 1900 were buried on land they owned, farmed, or worked on, as well as in community, church, or extended-family cemeteries nearby.
Many of these have more or less fictional accounts of military service, dates of settlement, origins, etc.Some stick strictly to documentable fact.
Site selection would have to be given careful consideration.Do you know precisely where your target person lived?Is there a related-family cemetery in the vicinity?Most non-abandoned church cemeteries do not allow markers to be placed for someone not actually buried there.Incorporated and other currently-used cemeteries generally require purchase of a burial plot.
If your target person lived in an area you are not personally familiar with, a trip there and consultation with one or two local funeral directors might prove beneficial, as would consultation with any local historical or genealogical society.