The 1031 is real estate for real estate so you can't use a 1031 to purchase an interest in a partnership that owns real estate.But, all that being said, the simple, elegant solution is for your friend to add a partner as a tenant in common on the purchase of his next deal.  

An indicator of your mastery is that you solve them undetected to others and perhaps with some elegance.

But then you came up with a much simpler, elegant, and profitable solution that made this Poobah look not so Grand.

Our current project is a flip in Drexel Hills, PA:3 bed, den, 2.5 bath Detached Single Family House.Quiet, well established and elegant neighborhood.1 to 2 blocks from Hospital, Schools, and Commuter Train. 

My home better be in tip-top shape, hospital-clean, and exude an air of elegance. 

Also, in a smaller space, a lot of contrast makes things look smaller still, so a colour that blends together and provides a neutral backdrop enlarges the space.

So, with all of that as a backdrop, here's my review of the options

If the card is elegant, people will want to keep it.One strategy is to put your name and what you do on the front in really attractive, large design, with contact info at bottom and more brochure-type details on the back. 

join the wholesaler bandwagon til the bankruptcy fades away into the backdrop some more years?

The fixtures and finishes look elegant so maybe the project won't cost as much as we're thinking?