Can I buy mixed use and rent to my own business?

[Matthew Bailey]

I own a real estate flipping business, so all of my profits are taxed as ordinary income (and at a high rate).  I thought it could be beneficial if I bought a mixed use property and rented the commercial space to my flipping business as office space.  I am in the SF Bay Area so costs are high.  Could this be a feasible way to find a way to buy a primary residence and decrease my tax liability by charging myself a fair market value for the commercial space, thereby converting my profits into equity in the mixed use building instead of having to pay high capital gains taxes?

Is anyone familiar with the pro's and con's of this sort of a strategy? Or any pitfalls I might be missing while this is in a very early stage of an idea?

Thank you!