used a 1031 to buy a property...can I subdivide it before selling

[Jonathan Hallenborg]

I have a parcel with 2 buildings and a house. I want to divide the property and sell the house off. The value of the house will cover my basis. Is this legal?

I have someone that wants to buy the buildings which I will owner finance to them and just pay ordinary income tax on the payments. You cant owner finance a relinquished property so wondering how this will work.