You can still do a 1031 exchange foreign to foreign asset.  

There’s no reason to go through a disaster (I'm mid recovery myself) and not get the financial upside by becoming the developer and selling a finished product versus raw land.If you have to completely rebuild, it’s a two year process at minimum.

If you do have to move because of a job, you would be safest (in my opinion, i am not giving legal advice or financial advice), i would sell that property to ensure that you did not just purchase with the goal of moving out early and taking advantage of lower rates and lower down payments for purchasing your home as a primary residence. 

I think new builds in such areas is a great idea, but financially it's very hard to make the numbers work since you will probably have a very hard time finding comps.

Switch over to a standard financial lending institution.  

Utilize financial analysis and market research to make informed investment decisions.

Is it in an area where assets have been or you believe will have appreciation? 

They have no credit history, so you have no idea how responsible they are financially.

Lets connect and I'm in Texas focused on asset class of Assisted Living and senior housing.

A good rule of thumb is to have at least $5 to $10K in reserves per unit to cover these situations and avoid financial strain.Thank you for the reply and help!