So, by this logic, if I were to run for political office and happened to be friends with Charles Manson (mass-murderer), then that association shouldn't be relevant because he committed those murders when I was eight-years old? The fact that he is a murderer and doesn't repent, but I'm still willing to be friends with him is meaningless?
What you don't say is that Ayers today states that his actions were justified and he wishes he'd done more. And Obama didn't "denounce" the setting of explosives that targeted civilians (by definition, terrorism) until after the media started reporting it.
No, I can't hold a person responsible for every person they've ever known, but I can question their judgment and moral views based on how they deal with people they've known.
He denounced Rev. Wright after the man's radical views became public knowledge and after initially claiming he wouldn't denounce. So, yes, I question the sincerity of that denouncement. I question whether Obama is telling the truth when he says that he didn't know about Wright's views, views that were expressed for twenty years in the church Obama attended. It's clear to me that Wright hates white people, in general, and I don't want a President who shares those views any more than I'd want a white supremacist in the office.
As for Ayers, the man's a terrorist, set bombs here in the US and is not only unrepentant, but wishes he'd done more. Yet Obama sought the man's advice and never denounced him until it became reported in the mainstream media. I don't want a President who thinks Ayers' actions are okay and only denounces them when the publicity seems to be hurting him, any more than I want a President who would, say, be friends with someone who bombed an abortion clinic twenty years ago and wasn't sorry about it.
If Ayers, today, was saying that he'd been a young, hot-head and he now regretted his actions, I'd have no issue with Obama's association with him, but that's not the case. Ayers still thinks setting bombs in public places is a valid way to achieve political ends, he's said so as recently as 2001 -- I want a President who denounces that behavior before it's politically expedient to do so.
Let's see ... the slumlord convicted of bribing politicians says that the politician running for President did nothing wrong. <sarcasm>Yes, I'll take his word at face value without looking at the facts of the transaction.</sarcasm>
Your characterization of the transaction is lacking. Obama didn't buy a house from Rezko. It's more complex than that, but the bottom line is Rezko spent money and Obama benefited from him doing so. There may not be any wrongdoing there, but it's a curious sequence of events and bears investigation.