A working class homeowner is hands on.

Spend $200 and sit down with a real estate attorney and get the scoop first hand on what is allowed and what isn't.This is true for California, Oregon and Washington.

I'd suggest narrowing your choices down based on your long-term goals and what excites you most (sounds like hands on flipping).

Then NJ will hold their hand out for 5-10% on top of that. 

There are a lot of reasons that is a bad idea.On the other hand, if you could buy the entire condo and turn it into a small apartment, there may be an opportunity. 

If you want to be more hands on with it, I recommend something similar to the above.

If he has tons of time on his hands and wants to get his hands dirty, flipping could be an option as well, with a combination of his money + private money. 

I’ve reached out to a handful of investor friendly real estate investors and lenders to start getting a team assembled.

While few people will ever tell you they passed on renting your property because they didn't like the accessibility features, you'll know for sure when someone doesn't rent it because of the lack of these features.I can tell you that as a buyer I would not want hand rails, ramps, these weird wide doors to walk through and some walk in bath tub that has a door on it. 

If you're open to collaboration, that could be a fantastic way to gain hands-on experience.