Qualified use refers to real estate held for investment.Now here's the exception - if part of that farmland is the tract of land you live on then you actually own two properties. 

Does he expect that it will be worth more as 2 tracts, since you could build another house on the empty lot?

I think your best apporach will be using the income and cost approach since comps are not there for a market approach.Actually the past land sales are valid but should be adjusted for the size of the land sale, smaller areas that are legal building sites sell more per acre or sq. ft. than do tracts.

The extra $$ to invest makes me more $$, more writeoff etc-which I wouldn't otherwise have.Just a contrarian view for BP members to digest.

Lots to digest.

But a New York appellate court made the astonishing ruling that the house was haunted:"Whether the source of the spectral apparitions seen by defendant seller are parapsychic or psychogenic, having reported their presence in both a national publication (Readers' Digest) and the local press (in 1977 and 1982, respectively), defendant is estopped to deny their existence and, as a matter of law, the house is haunted."

I'm trying to digest ALL the information on BP that I can.

I think large tracts of vacant land is becoming harder to come by.

Thanks for the added insight that is also very easy to digest!

Most tract builders are pretty much the same, but there are differences.