That’s your best bet.  

A working roof is a working roof - if the roof is still functional and you don't think it will split open in a storm or fly away in a hurricane (when all bets are off regardless), just repair and build capital expenses.

I think you need to work through this before you consider implementing a private financial improvement program like the one you're describing.

Sounds like a case for a small private loan, right? 

If you can't swing moving in then I would look to get private money for the renovations.

My cash is tied up in other properties at the moment so I wanted to fund the downpayment ($60,000) with private money.

I'd much rather that large hot with 3 creams from McDonalds.My bet (and I reserve the right to be wrong) is that the most important ingredient in a gourmet shop is marketing. 

Any reputable private lender / hard money to recommend in the New Jersey area? 

If you're wanting to self-manage to save money or just to get experience, investing in your area is generally the better bet. 

My employer gave me shares of company stock (company is owned by private equity firm, not publicly traded).