1031 buy new primary residence convert current primary to rental

[Robert Weaver]

I sold a rental property recently and have about 250k in a 1031 exchange account as a result.  In the process of looking for new rental properties I found a house that I would like as my primary residence, price is 800k.  Need to spend 615k or more to avoid 100% of capital gains tax.

Current primary residence is valued at around 700k, with 300k in gain.  Is there any way to buy the new residence and convert existing to rental property and defer taxation?