@Ethan Massen Outlined what I anticipated the process to be and what I am aware of. 

The problem (according to my exchange company) is even though the homes have been treated as joint with my wife and myself, the IRS auditor could potentially push that the homes I owned prior to marriage had a "transfer of ownership" when placed into the trust.My CPA suggested this outline to limit my exposure to this event.....1.

His program will give you the broad outlines but it's up to you to make it into a real business.

I am supposedly, my agent does not inspire confidence, going into contract today on a 6 Family unit a bit outside of the area outlined. 

I would just send a demand letter outlining the reason that you a claiming xx due to current leases not provided, and agreement that they be provided prior to close (hopefully that is the case).

In your particular case, you have not outline what your professional background is like.

I am looking to sell the home,  but here is my dilemma-(1) From my estimates, I think I would need to put 50k to do the above outlined work.

From your brief outline it does not really seem like you have decided on what you want to do in the future... 

Outline where you want to be in five years.

If so, did your attorney draft a modification to the P&S agreement outlining terms/conditions of the escrow account/NJDCA inspection/violations?