Even if they are spayed/neutered, cat's must use a litter box that is cleaned regularly or the odor can get bad. 

It is taxable income

Some people want regular and some people want spectacular.  

I live up north where it regularly gets down to -20 degrees.

Kathy Fettke, who is the owner, is a regular host for the On The Market podcast.

AND, you don’t save a pro-rated portion of the taxes, any amount of your exchange over the ADU value would be 100% taxable. 

In other words, you will pay less in taxes by reducing your taxable income.

For example, in the past you may have used your cousin (who doesn't sell any homes regularly) to help you find a home, that could have bitten you in the behind because something came up or was overlooked in the transaction which ended up costing you more than you planned. now that you are paying, you are hoping whoever you are dealing with is qualified.

The "boot" (cash or non-like-kind property you received, which is $190k in this case) is taxable.

@Robert Rixer, I don't know how creative these are, as many are common plays:Valet TrashFencing in first floor yardsProviding washer and dryers for added rentReserved, Covered parkingTech PackagesInternet and Cable contracts, with reimbursementsPayment Plan rents, with small service charge (i.e. bill 1/4 rent each week)Reserved Rental cabanas at poolPrivate pool party rental optionGolf Simulator in clubhouse - fee basedOn site, self serve car wash (quarter feeder style)Charged group fitness/personal training servicesGame room in clubhouse with monthly subscription for tenants (Xbox, Playstation, etc)Changing out high maintenance grass for astro turf or lower maintenance/lower water use shrubberyBut ultimately, I think a lot of NOI increases come from deep dive into understanding EVERY expense and finding ways to minimize them, and/or no outsource them.Train maintenance team on basic HVAC and appliance repairs (find way to get them licensed as needed)Buy paint sprayers for faster, easier turns versus having to hire a contract painter, and possibly repaint whole unit each timeStandardize all finishes, so you can buy in bulk, everything from hinges and door knobs to cabinets, paint colors, and light fixtures.Potentially get leasing people onto lower base salary with higher bonus potentialBulk/bundled insurance across portfolio (even better at scale is to self insure)Regularly test sprinkler systems for leaks.Non-NOI, but benefit to you: partner with insurance agency to get referral kickbacks from your tenant base for renter insurance.