Long answer - it's complicated.For 2024 you have a personal residence with room hacking.

Prior Theories: It could be turned commercial (no)A residence could be built there (no)They bought it to sell to me at a profit because I am the only one who cares about this.

I'm an out of state investor, therefore when I speak to some local credit union they request I reside in the area to obtain membership. 

The recalibration of reserve studies to account for these increases is inevitable, and unfortunately, this will likely lead to higher dues or special assessments, which can hit both residents on fixed incomes and investors hard.

State websites will have it in their revised codes.Look at Sutton, MA (and the county it resides) to see if anything else is on top of this.

Investment Info:Single-family residence wholesale investment.

Investment Info:Single-family residence buy & hold investment. 4 bed / 4 bath, 3500 sq ft

When you find out the present zoning of the property, the future land use and the local agencies comprehensive plan for how they see the area being developed (all can be done at the local planning office) you will have a much better idea of what you have just bought.If the land could in any way be developed into something more than single family residential lots, i.e. if there is any multi-family or commercial component than I would advise you to hire someone qualified to help you with the site planning of the development.

The first phase or about half the lots will be short term gains with the possibility that the second phase may qualify as long term gains.

Talk to your insurance provider to see if this qualifies for a claim.