However, there may be issues to overcome as the property your building will be owned by an entity controlled by the 1031 intermediary.

If you own the asset, don't own the asset, or don't even control the asset, you can still play in this space.

In Ohio there's no rent control, and in Toledo it's pretty simple: you don't pay your rent, you don't stay in your property.

Assuming you have a lender who fits what you need, and the end of this call you should know whether your deal is financeable through them, pending of course appraisal or whatever else is outside of your control.  

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

Sometimes control can be more advantageous than ownership.With the terms locked in place my plan was to sublet the lease option.  

Imposes liability on a tenant for any of the following:(a) Personal injury arising from causes clearly beyond the tenant's control.

I dont suspect any intentional foul play here, apparently he is a doctor and most likely is in control of the corporation but I need to make sure they arent trying to execute a prohibited transaction.  

Any opportunity is too good for the law abiding citizen, unless he can bring to table millions of dollars , spend 60 hours on some BS course to acquire a license, to have every breath and sigh controlled, regulated, restricted, obstructed and sabotaged.

As you know the rates in Florida are out of control.