Under that lease addendum with that tenant, the tenant was on the hook for paying to treat their residence; I allowed them to shop for a treatment subject to my approval, I paid up front but they did reimburse me in installments - given those circumstances, that was and still should be appropriate.

As a Realtor and Investor myself, below are a few reasons why my clients and myself invest in Houston, Texas            #1 Market in the US for Job CreationContrary to what the majority of out of state investors believe, Houston not only have Oil & Gas (Energy), Houston has other job growth in Consulting, Information Technology, Aerospace and aviation, Medical treatment and Research, Goods Distribution, and Manufacturing.

You are typically considered in the business of rental real estate once your space is rent-ready and advertised for rent (even if not actually rented at the time).Also note that your "within the walls" (rented rooms) and "outside the walls" (rental cottage) rental space may have different treatments with respect to the 121 home sale gain exclusion, so be sure you work with a qualified tax professional who knows his or her stuff, especially since taking advantage of the home sale gain exclusion appears to be an integral part of your strategy from the get-go. 

ozone machine is used in hotels, after a fire, basically helps neutralize offensive odors. you may be able to rent one at equipment place.Machine is on a timer, you set it leave and 12 to 24 hours later go in and see if it needs another treatment.

PM is a business, the better the client the better the treatment.   

Its not the reality at most restaurants and hospitals for a patron to go inspect the premises before dining or treatment - It is overwhelmingly common for a tenant to view a rental before electing to rent it - by choice. 

My advice...get at least two quotes on everything, make sure your roof is leak free, make sure you get a termite treatment (tent...spot treatment is BS), find an area you like, and get a property there.

@Stephen Harris & @Tim KerstingYes, it is absolutely possible to take the pension payout and put that into real estate investments without incurring taxes.Self-Directed IRA plans make this possible.There are a few different business models and various types of providers, and a lot of good information here on BP on the topic.The basic principal is that a self-directed IRA is no different from any other IRA with regards to tax treatment, it just has a different business model and therefore can be invested in anything the IRS rules allow for, as opposed to being limited to publicly traded stocks, bank savings vehicles or insurance annuities.An IRA can invest in real estate, and all income produced by the real estate will flow into the IRA.The caveat is that, just like any other IRA, you have to remain hands off and cannot receive any personal benefit.  

The purchase of a membership interest in a multiple member LLC or a partnership interest in a general partnership or a limited partnership or shares of stock in a corporation would be considered a purchase of a "personal property" interest (non-real-property) and would not be considered to be "Like-Kind Property" for 1031 Exchange treatment. 

., as @Dave Foster stated, Partnership and LLC interests are specifically excluded from 1031 Exchange treatment under Section 1031 of the Internal Revenue Code.