As a matter of fact, I had a discussion with a flipper a few weeks ago that brought this new reg to my attention, he was considering getting out of the business realizing that now he would have to comply, and that it would substantially hurt his bottom line.For me, as a conservative leader, I see it as a positive.

As Dave points out, only real estate held for business or investment use qualifies for 1031.  

My wife and I have been investigating developing a tiny home village in Central Texas.  

You are looking to rent or buy a space with a partner to have a personal fitness business or just a class?

Since, you will have to do business with them on your properties on a personal level.

They were referred to me by a friend of mine who owns the a large local business.

Or, find a business partner who has money, but not time. 

@Seo Hui Han you're not going to get very far in this business if you don't start thinking through the nuts & bolts of how this all works! 

Using a foreign entity in another state results in foreign entity filing if operating business in my current State.

There are some institutions that allow you to use both W2s and Bank Statements to qualify if you hold a side business of some sort.