I would ask a good CPA... BEFORE he sells... for recommendations.
A good CPA might say sell the whole parcel (including the primary residence) with a contract in place to buy back the residence as part of the sale... buy it back as a person or a Trust?
I am NOT AN EXPERT, but if shady hollywood producers and politicians can scam the rules... I will also.
1031s can be complicated... I looked into one once... but did not proceed.
