You've clearly been exercising your mental muscle for deal analysis and there will be others.

If you are looking to not renew or to raise someone, you need to give a minimum of 60 days notice (starting the next month after you give it).

Can you improve the property to raise rents? 

The tenants downstairs from them dont raise a stink as the boyfriend doesnt have his green card so they're not going to anything to rock the boat. 

Are you interested in making max return based on market rents or are you just happy having a tenant and not having to do the work of finding a new one.If you raise the rent by $50 - $100 he may stay or go.

My understanding is we will vet them as a group and any club member may ask questions and raise concerns, etc.

Instead of asking for a full 100% from a partner, just raise money from private lenders to cover the down payment and make sure you work with a hard money lender that allows you to get your down payment from somewhere other than your own bank account.

A few months later the tenant tells me the neighbors are raising hell because our fence is on their property.

I was just at a capital raising event in New York City pitching miami and columbus. by far there is more interest in miami for development, land entitlement, etc. you also aren't local so I'd discount what you say by like 80%. even if you are looking at "condo" investments, that's about the poorest way to invest in real estate so I'd say just you looking at that says something about your experience level. 

The purchase price isn't low enough for it to be a good flip, and it won't cash flow even if rents can be raised that dramatically.have you purchased off market / from a wholesaler before?