1031 mixed use swap help

[Leah Hagans]

Sold a ranch (relinquished property) which was mixed-use (primary & business). We are trying to find information on how to identify if a replacement property will quality as a mixed use 1031. An example would be a property with a horse stable with a home. The stable acreage and horse facilities would be for investment but the home a primary residence. Or a large acreage parcel with a home where the land would be developed into a new income producing vineyard. When we ask the 1031 exchange intermediary, they say to ask our CPA. Our CPA was able to help us with the relinquished property 1031 allocation but is unable to help assess if a new property would qualify as a 1031 and if so how to “split” it between personal and investment. We’ve asked realtors with no luck. If it matters, the replacement property would most likely be over the value of the 1031 allocation.
BUT, another option we’ve considered but also can’t find any guidance is what happens if we don’t spend the full allocated amount on a replacement property that needs improvements before it can be rented. Could we spend the 1031 money to make these improvements? 

[Leah Hagans]

@Dave Foster :)