Repair plumbing leak From upstairs bath (note living room ceiling) ELECTRICAL Remove paint from outlets where needed Add missing light bulbs Repair / replace GFCI in kitchen HVAC Add missing HVAC registers INTERIOR Caulk around all tub and shower trim Add missing door hardware Then to get it ready for a tenant...

I just put this duplex under contract right now, and the property inspection came back with the roof needing to be replaced and a door.

@Timothy Church, you have some great tips!!

There's numerous issues; hole in floor and hole in wall, outdated kitchen, ceiling tile is coming off in portions, metal roof that screws need to be replaced etc...

They are not permanently affixed to the structure, are removable and replaceable (and are removed and replaced frequently).The way that my tax professor explained it to me is that you could take any one of these items and place it in the middle of a field, on a sidewalk, wherever. 

Depending on the outcome of the inspections and any repairs needed, it may be better to replace the old heater.

And the remainder goes into the exchange account for them to buy their replacement property.Split use properties are an incredible opportunity to get some tax free money and defer the tax on the rest so you can leverage your investment portfolio also.

Unlikely, which means they will leave or they will rush to find a replacement tenant which will result in more problems and more work for you.4.

Replaced immediately, new one failed a month later and replaced again with a better one recommended by plumber.  

Does anyone here have experience setting up these sorts of arrangements, and if so, do you have any tips as to how to structure the lease, or anything to look out for/provide for in such an arrangement that might not be in a typical 12 month residential lease?