But in my opinion, it is a much better alternative.

If you decide to sell another strategy for you to consider as an alternative to a 1031 is a structured installment sale. 

I am happy to speak to what I have seen as the most common set up from a tax perspective to give you a starting point for a deeper discussion, but ultimately you will want to speak with your CPA in conjunction with an asset protection attorney because this requires a deep dive into your specific situation.  

I specifically focus on subdividing land and multi-family new builds.

However, it's also true that financing options can be more limited for LLCs, especially when it's a new entity.One alternative worth considering is forming a partnership agreement between you and your friend.

@Patrick Philip Keep in mind banks will price there construction debt based on the Fed rate & expect to pay WSJ Prime +1/2 to 1 Point so 10% is not bad from an alternative lender at this time.

I know Proper is specifically cited for its comprehensive coverage, which is detailed very well on their quote -- everything from liquor liability to assault to sinkholes... 

Specifically, I'd appreciate insights on:Finding LPs: How do you go about finding limited partners (LPs) for syndication deals?

Local real estate agents, property managers, and other investors can provide valuable information about specific neighborhoods, including which ones are on the verge of growth or are expected to see increased rental demand.Lastly, always perform thorough due diligence on any property before investing.

Specifically, shower tile with grout missing, tiny thin grout lines, gaps in overhand coverage/not sealed, and the list goes on.