If so, do I need to wait a full year to apply the CapEx rent increase?

If you want to make improvements on the replacement property you will need to either have the cash set aside to make the improvements, or after you complete your exchange immediately do a cash out refi one of the properties to access some cash. 

At first glance, you might notice things are cooling down a bit, but a closer look shows that for those ready to dive in, there are fresh opportunities to be found.Single-Family Homes: A Market Opening Up for BuyersSingle-family home sales dropped by 12.1%, going from 1,056 last year to 928, yet the median sale price actually nudged up 2.2% to $615,325.

Popping up is nolonger financially feasible, only popping out the back. 

I have family in construction who have looked at it and feel it has fairly solid bones and I like the location and think it's on the way up.

We offer our services for everything from acquisition, to construction, management and leasing, and sales of investment properties.I would love to connect with other community members (especially those in the Roanoke and New River Valley areas of VA) also looking to grow their real estate portfolio and find great partners along the way.I’d love to help you meet your investing goals!

You can't hold them accountable to the terms if they aren't on the lease.I would remove all of them from the rental and start fresh.

Exterior PaintThe home has a concrete foundation wall that extends about 3 feet up before the siding starts.

What's the ARV on these houses?

I made the transition to midterm rentals and it was the best decision I ever made.