Tearing down house to build duplex. Can I do 1031 for Unit B?

[Chris Schorre]

Hi everyone, looking for some insight on 1031 exchanges. Here's the scenario and facts. 

I own a piece of property in Austin and have for more than 5 years. It is my homestead and I have lived in it for all five years. The property has $500K+ in equity. I plan to tear down the existing structure and build a duplex. Once completed I would like to retain Unit A as my homestead and sell Unit B. Do I need to hold Unit B for a certain period of time before doing a 1031 exchange? I understand many of the other IRS tax requirements associated with 1031 exchanges but this particular issue in unclear to me. I will, of course, talk to my CPA about this but curious to hear thoughts from people knowledgeable about this topic.