The answer is perhaps. In the VA handbook, the minimum property requirement standards are published. Regarding shared water supplies the handbook does not state a maximum for the number of shares but it does say that the water must meet health standards for the area, so likely water quality lab test will be required and it says that you must prove that the well can supply all the homes sharing it simultaneously - so that tells me that well equipment/flow rate testing results may also be required. Consult Chapter 12: Minimum Property Requirements VA Pamphlet 26-7, Revised. You can find it at http://www.benefits.va.gov/homeloans/
if you want to research the topic more yourself. An experienced Realtor/buyer's agent and an experienced loan officer can help to guide you through the process of identifying a home and helping you through the process of getting it financed. If I can be of further service, please let me know.
Rebecca Patsch, Senior Assoc Broker, Long Realty Company firstname.lastname@example.org