Preservation vs.

Since you want to buy RE your goal should be to get an acceptable return  while preserving capital. 

There are plugins out there to make it even better.If you have substantial 'link power' on the search engines w/ your current site, you can preserve it with a plugin like this: https://wordpress.org/plugins/redirect-list/.  

Liability, peace of mind, preservation of a normal scent, and flooring are not worth that $200 - $400 initial fee and very small additional rental income.

Mike,Preserving our Constitution is worth fighting for.

haha  (not to mention I love historic preservation!)

You could also forbid future external improvements to preserve the outside beauty, just like you would not be able to hang cloths outside a balcony. lol.

After he moved, the deck stayed with the property (as per our agreement terms) and since then we've been the ones maintaining it by cleaning it and applying preservative as needed.

Any thoughts on how to approach him to preserve the partnership so that we each benefit?

For the past few years the school has been operating a Blight Clinic that is seeking to revitalize these types of properties, and I can definitely see, but obviously can't promise, them being interested in an investor who would eventually take control of the reclaimed properties.When I did my first year there, the Clinic was called the Neighborhood Preservation Clinic, http://www.memphis.edu/law/programs/neighborhood-p..., and it was run by Daniel Schaffzin.