Though I understand certain things must be in order for business to run properly. 

Getting proper advice BEFORE we buy a property us really important for us as real estate investors as you are leaning.  

I'm just getting started in the new jersey market as well and trying to learn the proper process for getting a tenant out.

Just because you could be sued though doesn't mean they would win and I would think you would have to have some sort of negligence, just keep up with the property and ensure your tenants have the proper insurance. 

The contractor needs to either be properly educated on the 203k or have verifiable experience with the 203k.

I am under offer on a house built on a slope that already has an unpermitted 800 sqf walk out basement apartment and I am trying to decide if it's worth the money and time of getting the basement apartment remodeled and properly permitted as an ADU. 

However, the floors were done around ten years ago and the precise flooring can’t be matched.I was wondering if I should trust the management’s repair crew to do a proper job or whether I should make specific requests, as this type of situation is new to me.There is a cooperative tenant residing in the condo.Advice would be greatly appreciated.

What are some realistic expense figures that I can plug into my proforma to evaluate this property assuming it's properly managed?

If they are not hard wired, you may have to pay an electrician anywhere from $2K - $6k to wire them properly. 

I would like to utilize the HELOC to lend to the partnership, from my own LLC (which would be paid interest above what the HELOC charges) but am wondering what hurdles I need to jump through to do it properly.