Questions on using 1031 funds for new construction

[Joe Kahn]

Appreciate any advice on how the following scenarios would work out for a new construction project, for a single family home using 1031 funds:

1.  Start the project by buying vacant lot with non-1031 funds

2. At the time ready to start construction, form a single member real estate investment LLC (called let's say "REI, LLC") that would fund the construction with 1031 funds and will eventually hold title to to a the real estate investment property

3. Sell 2 condos and put proceeds in REI, LLC account (exchange account?). Related question, will bank hold 1031 funds for 3 months before releasing for investment in new property?

3. REI, LLC buys the vacant lot with 1031 exchange account funds. Is this OK under 1031 rules?

4. Continue construction with remaining 1031 exchange funds

5. Sell 2 more condos for additional money to complete project.  

• Do I have to do this before end of item 3 above 180-day deadline? 
• Or will this start a new 180-day deadline at this point?

6. Take title to completed building in REI, LLC name

OR, to avoid any issues with the above plan:

1. Buy vacant lot and construct using non-1031 funds

2. Take ownership/title in my name, and then 

3. Buy the property with 1031 funds from the sale of 4 condos, using a new single member LLC in my name. Would this be OK under 1031 rules?

Thanks in advance...