As property reconstruction costs climb due to inflation, I anticipate more insurance providers will follow suit in the coming years.Therefore, investors with properties in high-risk areas might consider a 1031 exchange to a safer investment location as a prudent option.

Asking for a prequalification letter from them seems like an easy and fair exchange.

A 1031 exchange could defer both capital gains and depreciation recapture taxes if you reinvest in another like-kind property. 

They'd chip in for that 15% gap in exchange for a fixed return upon sale.Have you explored seller financing on the land acquisition side?

If you are wanting to sell your real estate property, but are worried about paying taxes on the capital gains, a great strategy to consider is a 721 Exchange.

If we sold either property (current rehab or potential next) I would most likely look into a 1031 for the next property. 

How can I help you achieve your goals in exchange for you helping me?)

Does anyone know the high level implications of undoing a 1031 exchange? 

So for example, you give the seller $5k upfront in exchange for the right to purchase a property (let's say worth $200k today) for $250k in ten years.

Ask if they have any other projects they need asset management help with, and offer your services in exchange for an equity stake rather than a paycheck.That's how I would think about it