To do this I bought homes that needed new carpet, paint, and health and safety items.

Now i just reviewed pushing back but imo still give them something whether its a few hundred off or that you will replace the broken light switch and various safety items or whatever you want to do.

Few quick pros and cons off the top of my head, having bought seconds for a few years.Pros: - cheaper to get into (you can get high quality ones for 10-20k)- safety through diversification (you can buy more notes with the same money and spread your risk that way)- generally much higher returns (we've had a lot of notes with 100%+ returns and recently got one with 1,000%+ return)- typically don't have to deal with taxes, HOAs, and as with all notes don't have to deal much with physical propertyCons:- Less inventory available, with rising prices and more competition- Lots of underwater inventory so you often run the risk of a) getting wiped b) having note sit in the drawer for a few years- Have to deal with scum-of-the-earth bankruptcy attorneys- Requires much more interaction with the borrower, since foreclosure is rarely the optimal play- Fixed costs are killer on 2nds (ie 1 foreclosure on a 50k first is a ton cheaper than 5 foreclosures on 5 10k notes, so is servicing etc)There are a ton of pros and cons to both, and both are great.

From a safety standpoint the deck needs to be repaired, but doesn't look like it's going to help much in bumping the rent.  

A few blocks can make a big difference in safety and the type of tenants you attract.  

I'm not telling you to not remove it or to remove it but look at your situation and decide on a safety/budget scale.

So be a good citizen and do as your told.But seriously, normally "life safety" issues are not grandfathered.

You'll also want someone that serves as a safety net, so to speak, and make sure that you really understand what you are getting into. 

The reason I ask this question is that I chose to prioritize real estate and investing over my job in the tech industry.  

IE its a high crime area and you fear for your safety.