Thoughts on this. I'm thinking there is no exemption here, but need some BOLers to authenticate my opinion.
Borrower is purchasing land to set up an agricultural operation. There happens to be an old farm-house on the property (for which, wait for it... the borrower says there is no use). I'm thinking that, while the farm-house might technically be a residential structure, the property and purpose overall is commercial, and thus, no exemption.
Am I crazy? Fire away.
Maybe you just wanna fly the plane yourself. Well good luck pressing take off, then auto pilot, then land.