@Thomas S.I agree with your thoughts on not fixing what’s broke, but I think there’s some real opportunity for some forced appreciation in addition to increased rent if I can boost the curb appeal.$15,000 is probably a bit overboard, but I can do most labor myself, so $15,000 worth of work may in reality cost me half or a third of that in materials cost.

Their defense: A condo/homeowner association is a private, contractual business relationship in which residents voluntarily sign away even Constitutional rights when they agree to be bound by the rules set by a community association board. 

I wholeheartedly agree with @Matt Long and @Megan Phillips.

@Calvin Rankin, I agree with those here suggesting that you avoid this transaction. 

I agree with @Jake Fugman "When Im working with clients looking to buy a in an area that has good balance I typically direct them to areas on the near west and NW side.

@Beau Fannon,I agree with what you heard from @Danny Webber and @Aaron Gordy.  

Landlord has been accepting $2k instead of the agreed $4k since 1.5 years and now all of the sudden he is asking us to pay back rent to continue the lease.

I totally agree with you.

My partner is requesting repayment of the total of his cash investment, which I agree with.

The income after guaranteed payment is taken out will be split among the remaining 3 partners based upon the agreed upon profit/loss percentages.