This is what I found after 9 months of a 4 year old's use.  
1- Steps creaked and ultimately cracked
2- all the hardware is one time use only, so if you decide to move it you really can't.
3- Velcro for tent material is worthless, bring your own glue
4- "Security Slats" are two rulers thick and will give to the slightest pressure.
5- Base rails holding mattress frame was cracked in several places.