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My understanding is that it is a requirement that the property has to have those 3 things - not that it has to have them at the time of purchase.

But it would have to have those facilities during the year for which the interest deduction was taken. In this case, it sounds like now, in 2014, the land is still raw land. That would mean that interest would not be deductible as 'mortgage interest' during 2013, since it was raw land during that entire year.

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