I think your mentality is a very robust, adaptable style, and it prevents long term failure.

It is only one tool in one's toolbox and it is best used for specific deals.HM tends to make the most sense on deals where conventional lenders will take too long or the condition of the property prevents conventional financing.

I asked because this is my biggest hang-up right now preventing me from buying my first rental property.

Obviously, regular service and filter changes are crucial for forced air systems.You can use the timer setup for electric water heaters also, shutting them off for several hours at night when most are sleeping, and again in the daytime when they are working.

@Curt Davis are there provisions that may prevent him from doing the quit claim?

It is when a technician uses a funigation machine which disperases the chemical into the air and void areas and requires a full facemask and protective equipment.

In addition I'd consider hiring the pest control company to come out to put down more residual product after the initial treatment as a preventive measure.

There would be a lot of work in making sure they are up to code, but after looking at the Memphis Unified Development Code, for example, nothing jumped out at me immediately that would prevent you from doing this if you have a vacant lot, zoned residential, with utilities. 

Ounce of prevention is worth many pounds of cure!  

I love Bigger Pockets because you've helped me clarify what I want, and given me so much information, and prevented me from wasting money on a "mentor" - thanks so much.