The decline in housing starts was also broad-based, with both single-family and multi-family construction posting declines.

@Carlos Silva The rules are very broad.  

The best advice I've found comes directly from @Brandon Turner himself, define your criteria.

It seems like from west palm down to Hollywood would be our range (broad, I know).

The 1031 Law (speaking practically)These rules apply to any exchange:Must complete within 180 calendar days of the sale of your relinquished propertyMust identify up to 3 replacement properties within 45 daysOnly complete tax deferral if the final value of the replacement property is worth at least as much as your net sale price for the relinquished property.If you trade down in value, the difference is taxableKeep the same taxpayer across propertiesYou can exchange into (and out of) any state and many US territoriesThere are lots of different assets that qualify as valid replacement targets in a 1031, so think broadly

Define "high profile".

Unless there is a legally recognized exemption (many exemptions are defined at a state or local level), then the termination clause in your lease would apply. 

The folks I see having trouble completing 1031s are generally those trying to cast too broad a net and the decision paralyzes them.

The lease defined excessive use and indicated charges  x % above the yearly average would be billed back to the tenant.

That means you offer housing to the first applicant who meets your pre-defined criteria.