If you have a piece of a single place, like a condo complex in a ski area or beach area that is one thing.

Which lets you sell a piece of investment property (not a fix n flip property) and by using the 1031 process you purchase a new investment property. 

[5] Are they all cookie cutters, or will there be different facades.[6] How many buildings to you envision on that piece of land?

If you have a crew of committed resources to complete in essence a new build in a short window that is one thing but of not, where the market is now may not be where it is when you are ready to list it.The other thing is that when you have someone that thinks they know the market whispering in the sellers ear, you will likely have a challenge on your hands especially when you are offering almost half of what the seller is being told it is worth (even if it is not). 

The biggest piece of advice I could give you, is to put yourself around people in real estate.

Sometimes by moving one piece of the puzzle just a little bit, it opens a whole new set of options.Best of the build!

Without these pieces you'll struggle. 

Yes you'll satisfy the like kind piece of the exchange, the question is how much of the LLC is exchanging into a new property.

Even though I'm a tax professional with over 25 years of experience, I don't know your entire tax situation, and there could be important pieces you did not share.

Actively talk about your interests in STR investing with people you meet and your pieces will fall into place.