Additionally, if this thing is zoned commercial and it sounds like with the store it is, that will add another layer of complexity.  

Telling me I shouldn't invest in NJ will not be helpful.If this fails I need to pressure them by raising their rent as much as I can get away with and close the laundry/storage area and refuse to let them store crap in the hallways, which will cramp their style.

If there is a window seal leak and water has leaked in the rental property can tenant hold landlord liable for any damage to furniture? 

We have had significant cash flow from day one.I don't want to sound like its all roses, with so many residents there are always issues like :(1) Please pressure wash your home.(2) No you can't leave living room furniture in the yard.(3) Please throw your trash in a garbage bin not in the road.(4) Yes there is a late fee for not paying your rent on time.Soon we will be able to hire a park manager but we wanted to do it ourselves the first year to really understand the business.

If corporate guarantee is it the parent company, subsidiary, or a single location entity LLC the tenant created that they can bankrupt and easily walk away from without affecting other stores they own or their personal assets.

My lender is asking me to prepare a proforma for the retail strip I am buying (5 stores and a residential apartment).

You should be able to get a premanufactued railing or fence from home depot or a simular store that will meet these requirements. 

Most mortgages have a clauses about not storing hazardous materials in the property, as well as about keeping the property free of municipal liens, and it sounds like this particular homeowner may have crossed that threshold.  

Here is the process I generally recommend:#1 Read the Book on Estimating Rehab CostsJScott's 'The Book on Estimating Rehab Costs' is a great resource for new rehabbers to learn how to Estimate Repair Costs on 25 common rehab repairs.https://www.biggerpockets.com/store/the-complete-g...#2 Explore Lowes and Home Depot to Learn About Material PricingTake a tour through Lowes and Home Depot (or their websites) and look at finishes materials and fixtures that you will consider using in your rehab projects.

Furniture will be broken (Destroyed), keys will be lost, codes will be forgotten at the wee hours of the morning, reviews will be left that are totally subjective and barely relate to the actual experience of staying in the house....the list goes on.