Buying a land and constructing 3 houses with friends

[Suresh Ram]

Hi Experts,

Am looking to partner with 2 other friends and buy a piece of land , construct build custom house for each of our families . Curretly the land is sold as single unit with large amount. The question is 

1. How to buy this land with combined money from all 3 of us?

2. How to split the land ?

3. How to check if 3 houses can be built there?

Any gotchas before i dip my toe into this ? Your expertise would be much appreciated as always