Is the siding mostly intact and not ripped or cracked in multiple spots?

Your situation sounds like a classic investor's dilemma, and it's great that you're considering all angles before making a move.First off, it's worth considering what the "rip cord" would be for your investment—essentially, what's your financial breaking point where you need to make a decisive move to avoid further losses?

Unless you are part of an investing contingent with a bunch of other landlords with Trenton holdings, like the "Brooklyn" folk, I feel if you are a landlord living 1+ hours away with the plan to have 1-3 properties in the near term, you will get ripped off.

It seems most are more than happy to rip you off, as well as your tenants. 

Your tenants and their kids are drinking that water - if you won't drink it neither should they.I'm not trying to be up on a high horse - I didn't know how bad the were until I saw one being repaired... no stop rip all that stuff out.

My tenant’s dog has ripped the linoleum flooring in the kitchen.

I would take that money and do one of a few things with it:1-Look for a JV partner to do a larger deal with2-Keep learning about the market and investing as a whole and sit on the money until you have enough education to leverage it3-Use the money to set up your real estate business and buy leads & marketing betting on yourself may be the best of the optionsAlso tread lightly around the leave NJ advice places like OH, Baltimore, even parts of South Jersey can be money pits where ripping off out of towers is a cottage industry.

I have had roofs, water heaters and HVAC last 40 years, so why rip them out at year 25 or 30?

You would be exposed to doing work without a permit, the cost of the actual permit and, worst case, having to rip it all out and have a licensed plumber/electrician do it again.I've heard most municipalities around my area no longer charge the work without a permit fine.

You get ripped off.