You need to make it clear that is your intention and contracts are not something to cheap out on go talk to a lawyer in your state.

If not - educate yourself first before you buy a 3/3 with that intention.3) Do you know what the 50% rule is?

My intention of this post is not to offend.

That's usually to the advantage of the client and easy to justify as your intent in the 1031 was to shelter gain.

Right now I am in the research phase but my intention is to take my portion (well my Dad's) which may fall between 4-8 acres of land, and figure out what would be best.

True, over time the market will bounce back and maybe go higher, but how long can you hold your breath?

Nearby retail development, especially big employers like hospitals and manufacturers and does the area retail commercial development fit your intention like for low income, middle class, or high class and does it fit your plans. 

1st offer in on a 2/1 brick in great location with intent to flip.

Intentionally making yourself broke in order to avoid liability is a great way to get the protection dropped by a court. 

I am upset that so may working people in my area are living in tents.