1031 Exchange Build to Suit

[James Lee]

Hello all, my family is planning to do a 1031 exchange where we sell a multifamily building we own in New York, to buy a piece of land in Texas and turn it into a manufactured home community. Funds from the sale would be used to acquire the land and build the manufactured homes. I'm aware that this is a more complicated and costly version of a normal 1031, and wonder if anyone has any experience doing one of these. What kind of things should I watch out for? Thank you for any assistance!