However I see that if you can structure this deal correctly you can qualify for a long time capital gain.Tips to get capital gain treatment on the sale: A) If you have actual investment property and you are dealer: -Maintain separate book-Document intent to hold the property as investment property in Minutes or other document-Report expense as investment expense on tax return-Also use separate entities.Using controlled entity to get capital treatment on land:-it is important that the sales price reflect the property's actual FMV at the time of sale. the formalities of a sale must be observed.

What would be the tax treatment of this sale?

To clean the floor  we used 3 stages of chemical treatment and enzyme treatment .

Termite treatment can be a one-time thing.

Beyond these, it will depend on property location: you'll need to handle snow for vacant properties &  multifamilies, pools if properties have them, pest treatments in the south, etc.

The coliform is the biggest issue, but a shock treatment with chlorine bleach is generally all you need to take care of that.

Four treatments with Clorox in a garden sprayer and I’ve killed the smell.

There are sections of the crawlspace I cannot access for subterranean termite treatment, as well as running new electrical for an AC system, I kept thinking there may be a hidden opening covered by flooring, but if I can't find it then I need to crawl down to the 16" headroom crawlspace with a corded rotary hammer strapped to my ankle, crawl ony belly for over 40 feet to enlarge the congested opening so I can pass through it. 

I just bought the property and for sure have to do termite treatment.

And the underlining assumption is tax treatment differences will make big difference.I own rental properties and invested in syndication and to me, it's comparing apples to oranges.As Tony mentioned, you typically get a large passive loss in MF syndication the first year which offsets your distributions for many years (no tax). with direct ownership, you get to write off all the things OP listed above, so you typically end up with very small or no tax liability (at least in my experience).