So the security of a long term tenant is not likely there which makes selling the cell tower lease attractive. 

More cost and you need to prepare soil/foundation on lower course but will be a much stronger and attractive wall.

These issues fall on the owner of the attraction, it is not reasonable to assume a landlord is to put a pool cover on when the last person gets out!

For this, I have to compare my condition or projected condition to competing rentals, how long an improvement will last, (Granite counter-tops versus an upgraded toilet paper holder) the trends in the market place, such as what tenants appear to be trending toward liking, how popular a particular item is, and wether I might get only the same rent as I would have, but possibly just get a better tenant.Those are all bottom-line, figuring out the net dollars concerns.2) How much time and aggravation it saves me:Here, I go beyond just how many net dollars in extra rent I'll collect, versus the cost of improving, and I consider how much extra time it takes me to wait another week to rent it, or possibly how much time I waste dealing with a "b" quality tenant, when for an extra $1,000 worth of upgrades, I might have attracted an "a."

You probably are looking to find properties with Equity > $30,000 (that is the greater than symbol), or properties with Equity > 49% (greater than again).But maybe I'm wrong about this ...

AND: my wife's family is here and we would have a good network to help us get started.2nd choice: Northern or Central NJ -- many of our closest friends live in the NY/NJ/Philly area, I spent 7 years living in NJ and the proximity of NYC makes NJ a really attractive place for us to live.

It's mostly a tourist attraction due to the historical significance.

Even-though it isn't the most attractive, Black Letters on Yellow Background get the most attention.

Make your offer as attractive as possible.  

When the market tiers off you do not want to be caught with your pants down with a property that has deferred maintenance, old countertops and outdated cabinets, stained and tired flooring and little attraction.