Client wants to sell residence with a rental unit located on same property. Rental unit has separate access. Client wants to do 1031 exchange with rental unit. Possible without splitting lot? Problems?
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Not sure if it completely answers your question, but see Example 2 of Rev. Proc. 2005-14.
https://www.irs.gov/irb/2005-07_IRB#RP-2005-14
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