One of my pledge brother goes to varsity wrestling Iowa State (yup, they have an excellent program). In his case, he got burned out by all the loads and he moved out.

Too bad.
Also, my pledge dad was in the Cyclones Football Team for a semester before he decided to choose the house instead of the football.
I guess the word of wisdom is, if you commit to both, you can do it. You can see examples, some of the college athletes are also in Greek houses. Our Charges in Brown and Stanford are famous for football players. In fact, James Lofton is a brother from Stanford.
So, go for it! College is not a college without joining a Greek System!