@Henry T. from what I have experienced NJ is fine if you know the areas to avoid.   

T

(additional info: changing the stairs or getting new ones would be a massive undertaking)You might be able to get them to sign some sort of waiver, but then if anyone gets seriously hurt it likely won't save you.Some attorney will argue you willfully ignored a known safety issue, and as the "big bad landlord" you'll lose your shirt and then some.Plus, your post here will be Exhibit A and definitely won't win you any points with a judge!

I will say experience is a big teacher in this industry - when I was new I didn't know sh*t about "fixing" properties.

Lenders are t always investors and don't have insight into these macro strategies.

Especially in this market where everyone is paying a sky hi premium for run down properties, but again you can also loose your shirt.

Here is a thread where I share more about my experience along with many others:https://www.biggerpockets.com/forums/92/topics/518583-feedba...https://www.biggerpockets.com/forums/92/topics/950188-rent-t...

Several things to contribute here: 1) Private Lenders with no credit experience emerge doing down payment and 100%/High LTV financing at the end of every cycle, 2) they're among the first to loose their shirts in every downturn, 3) although someone termed this type of lending "gator", it's not new, 4) the guy that coined it didn't get into real estate untill well after the last crash, 5) he has no real credit background or experience (he's never been a lender), 6) Google the guy's name and "looses professional license in AZ" to see what pops up, and finally 7) he's really effective at telling people what they want to hear, filling their heads full of hopes and dreams, getting them to buy his training, and his minios generally won't want to hear what a real, seasoned lending vet will try to tell them.

We have also decided that family always comes first, money is just money and if something happens to our partnership or management style we will sell the building.

I would like a granite style, but not sure about the other stone options in terms of what would be best.