Re: Awful bathtub!
I agree with DJ,
Whatever you decide, you will need the blessings of the landlord to repair/improve HIS property. Best case scenario is that he will pay for the repair if you do the leg work. Worst case scenario is that he won't allow anything to be done.
Worst case scenario is, you either live with the bad tub or find a new place to live. I am always leery of a landlord that wants to maintain a sub-par property and expect tenants to live in it.
Assuming you get the ok, the cheapest route will be having it reglazed. I would recommend that you do as much of the prep as possible which will keep the price down and result in a better job. You can sc****/remove the majority of the paint and perimeter caulking, and clean any other dirt, mold, debris out that you can find. That will leave only surface prep to the Applicator, who generally tend to overlook details such as I've listed. Once it's done, you recaulk and then you have a beautiful tub to enjoy.
Keep in mind that your bathtub will be out of commission for about a week for this process, so plan ahead in regards to alternate means of bathing. A rough timeline would be one day for you to strip the paint and caulk, one day for the new enamel application, one day for the enamel to cure, then you recaulk and it will be up to three days for the caulk to fully cure. Once you remove the existing caulk, you can no longer use the tub.
I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!