Using 1031 Exchange funds to purchase primary residence
Im considering purchasing a new primary residence. To fund it, I would sell my current primary residence and potentially one rental property (havnt decided which one, unfortunately I do not have one I have lived in for three of the last five years). I would like to do a 1031 with the capital gains from the sale of the rental property. Can I do a 1031 into the new primary residence under the premise I would do some short term rentals/ VRBO with the new property? Can a primary residence qualify as an income property? Would there be any kind of minimum income requirement?
Any advice or personal experience is much appreciated!