If you're above that, or don't have time for that, you may want to evaluate your commitment to being in this business.After you have spent that time and money doing that, THEN be more open to evaluating a comprehensive project that will easily be 50x the cost often than what I suggested. 

I've made a commitment for all of my new homes to include all or most of what I just mentioned starting around $275k whether or not I am successful in creating and launching this fund.2.)

That being said, most rulings thus far have been rather favorable to the investor and showing the Treasury and administrations commitment to seeing this program work. 

I was initially looking at commercial instead of residential LTR to avoid the hassle of time commitment, long term tenant problems, evictions, etc.

If they're really looking for a cash offer that might be an issue, especially since it sounds like you don't even have a hard money lender lined up yet (much less a commitment from one).Second, if you do end up submitting an offer, make sure there are no restrictions that would prohibit you from renting it out since you said you might keep it as a rental. 

Wes, it’s not particularly difficult if you commit to it.

Con: Living on site is a mental commitment.

Con: Living on site is a mental commitment.

I've never sold new construction before, and just got the title commitment.

So having to commit the large sum the 1031 would require for single-digit gains is motivation to look for another 1031-friendly investment avenue.