Put yourself in the GCs shoes, will you accept the deal?

Put yourself in the shoes of the first position lender.  

Thank you @Iverem Rose.

If you guys were in my shoes, what course of action would you take? 

It's the equivalent of buying a knock off of Nike shoes...you know they aren't Nike's, won't perform or last as long as Nike's, but since you can't afford Nike's or don't want to pay their price tag, you buy them.

I have a degree in Civil Engineering from Rose Hulman and look forward to new adventures.  

If I were in your shoes, I'd simply explain to the downstairs tenants that when the noise is going on, they should call the police and not you.

I too was in your shoes.  

I was in your shoes, approximately anyway, about 8 years ago-I'd already invested out of Manhattan since '03, but my wife wanted to stop renting and own our own place, so we ended up buying an apartment in South Harlem.

I surmise his flooring are getting grinding with grit from shoes and traffic...With asphalt and good matting I have some laminates holding up 5-7 years plus.