After thinking it over more than twice we decided to decline the lease to them.

My partner told me I should accept it, but I declined.  

What does the repayment penalty mean below "declining points?"

Once that us sent and you do not receive a answer or he declines to settle you can now go file for a case.

Stand firm and raise the rent, declining the next month's rent check for anything less than the new, higher rent.

Present the offer and your client will counter or decline.

If the landlord is offering a lease buy out to her, because he want's to change the property then I believe she has the choice to accept or decline that she would agree to move.Basically if you sister does not agree to the buy out then the landlord is stuck until the end of the lease term.. but if your sister can find other housing and wants to make a buyout deal..

I conducted inspections about 5 or so months ago with no problem and did have him do a walk through inspection form 6 years ago prior to his move in, but after his "friend" moved in the tenant/landlord relationship quickly declined.

It is a city that has declined, like no other major city in America.  

I would like my first deal to be close to home so that I can be more involved in the process of going to look at properties, but I live in Chicago and am not too excited by the real estate market here given that the supply is increasing (lots of new construction), the demand is decreasing (city population declining) and Illinois is just going down the tubes financially (some would argue that the state is already way down the tubes).