Subdivide a property to get a 1031 exchange

[Assaf Furman]

Here's a scenario I came across:

Say I own a house which I'd like to to sell and buy another one which I'll live in. Now say I've found a property with two houses on it, and it's subdividable so that each house will sit on it's own lot and I can call one of them an investment property. 

Can I buy that property, subdivide it, and then exchange the sell of my house towards the purchase of the investment property?