How about a replyCarlos- How do I go about getting the same treatment ?

If you deliver a pest free home at time of lease contract, other than termites, it should stay that way; however, ants are common so most landlords will agree to pay for such treatments.

@Joshua Price - while bait stations may have some merit, as Account Closed mentioned is no substitute for a professional inspection and treatment in my opinion.  

Keep in mind too that the IRS and states have requirements for installment contracts and equity provisions causing specific treatment of contracts."

Get a few quotes and give them red carpet treatment.

The notes are a financial instrument and in order to qualify for 1031 treatment when you sell investment real estate you must purchase more investment real estate.  

Properties acquired for rehab are actually held for sale and not held for investment and therefore do not qualify for 1031 Exchange treatment. 

The accounting treatment would be the same.

Wait til the kid breaks a leg, your wife needs surgery or you need some ongoing treatment.....the medical benefits can far outweigh the money.

Then, I'm looking for a 22% cap rate after taxes, we all know I won't be buying many properties.For your cap rate, you have inside of that a "managers rate of return" or the "Internal rate of return" arriving at that, bringing each dollar received in the future back to its present value, the beginning rate selected is that expected in the market compared to other investments requiring similar risk, costs of management and administrative expenses as well as tax treatments.