Sold 8 unit,convert 3 hse personal to bus., then exchange? Lease back 1 house to me?

[Jason Hatfield]

Sold a long term multi family today.  Primary residence is a 50 acre, 3 house property that backs up to a tourist spot.  Want to convert my 50 acres to business, then use it as the exchange property.  I would then pay rent to the business for 1 house to live in.  Rent the other 2 houses and add a couple more small cabins to the property to rent as well.  As it sits right now, the 50 acre property is worth about the same as the multi I sold today.  The mortgage on it is a tad higher than what I paid off on the multi unit.  What we sold was in my wife's name.  The 50 acres is in both our names.  We file a joint return.  Is this possible?  I know you can buy certain property for personal and covert it to business later if needed but if the numbers and values match up is it doable?  Or would I have to move off the property altogether?  I have been reading and studying about this for weeks.  Any advice is appreciated and I thank you in advance!