The railing may be a safety issue or a non-issue, depending on local code because it’s only 2 steps. 

It is surprising how many BP posts are about very basic info- local LL/Tenant laws and Real Estate licensing laws; IRS rules; Fair Credit Reporting laws (that affect anyone that is approving/denying rental applications); EPA rules regarding lead paint, asbestos, waste handling, runoff, and more; Worker's Compensation (insurance) laws; OSHA safety rules; contract law basics; Accounting best practices; HOA rules, budgeting, and reserves; Building codes/permitting rules; and plenty of local ordinances.

Additionally, there are certain laws and regulations that you must comply with when renting out a property, such as obtaining a rental license and meeting fire safety and other safety standards.

Investment Info:Single-family residence buy & hold investment in Portland Purchase price: $562,500 Cash invested: $35,000Reroof and safety improvements

Those are really the only areas on the property where I'd prioritize making some changes.

Everyone will vary depending on how much of a safety net they need but regardless it is wise to have some put aside.

We prioritize this over reviews from past landlords because past landlords are typically not truthful because they may want to get rid of tenant.

Don't starve yourself or sacrifice your family's safety chasing a few more bucks.

Prioritize projects!

Safety monitoring - A big concern in basement apartments is Carbon Monoxide.