Sell investment property to buy multi-unit split use (rent/prim)

[Kimi Ho]

Hello,

We are currently in the process of selling an investment rental property for $200k (in escrow) and purchase a split use property for $1 mln (also in escrow). The property will serve as a split use as it has 2 entirely separate units with one common wall (1 house number and 1 parcel). We are planning on renting out the older home (1953) and live in the newer construction (2007). To make things even more complicated, we are also planning on listing another rental property within the next months ($300k). We would really appreciate is if we could get some expert advice on whether a 1031 would be possible at all. And if possible, would such need to be indicated in the current sales and purchase contracts? The proceeds from the first sale will go directly into the escrow account of the purchase. Please let me know if any other info is needed. Thank you in advance.