When I see a property starting to underperform, as the manager I have to run the data to figure out why and then make adjustments whether is lack of amenities, need updated photos, replace a couple pieces of dated furniture or increase my focus on advertising that property specifically.

When his lease is due to expire give him enough legal notice and kick his monkey a** out of the unit (don't actually kick him it's a figure of speech lol)  That's a bad tenant you may have been able to screen and weed out with an experienced PM. 

It is part of a larger building and I am not able to assess whether it is in some way a condo, and if so, are they up to date with any fees. 

Just make sure they won’t place a lien on your company.Equity Partner: Consider bringing in an equity partner to help with the $300K down payment in exchange for a share of the property.Renegotiate Terms: Try to renegotiate the closing date or lower the down payment amount.

You may also wait until the lease expires and just give them notice. 

Odds are that the changes needed are not likely to help one get near to the Pro Forma goal/wishes.As an LP, I'd want to know if we were going into the closing w/o the full raise, and for sure to be kept up to date on the plan to resolve the shortfall asap.

There doesn't seem to be enough information to support that.If you purchase a property but then spend 4 months rehabbing it before its first occupancy, your depreciation starts from the date it's placed in service (first occupied) not the purchase date.

The 'cooling off period' is fourteen calendar days from date of entry into these Terms.

Current lease term (expiration date, month-to-month)7.

I had an expired lease option 3 states away and she was invaluable.