I would speak with them prior to buying anything if it was me.

Definitely speak to your accountant.2.When you go to refinance, the lender will look at several factors - the value of the property, use of property etc.

Protect yourself and speak to an attorney.  

I grew up in the land business my dad was in it in the 60s .. and humbly speaking I know it as well as anyone who is trying to sell these courses.. 

If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.

However, consider calling the VA’s regional loan center or speaking with a VA-approved lender who can interpret the rules in a more specific scenario tailored for you.

HI @Sufyan MinhasI can only speak for Texas but I recently had a client try and sell his condo after 19 years and the HOA killed the deal.

I'm sure there's individuals that are good at both, I'm just speaking in generalities. 

I would recommend speaking with @Denver McClure.

but I suspect homesites will drive the best values.. no one wants logged over sites for building ( generally speaking)  it works here in the Northwest because of the incredible shortage of buildable land. but in other areas not so much