14 houses and in over my head

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Hi all, newcomer here. I'm not sure where this post belongs but I'm in a tough spot and I'm not sure what to do.

My mother and I have been investing in inner-city properties for the past several years, buying gutted foreclosures in the 10-20K range and doing rehab work in-house. My mother's partner managed the houses full-time and handled the majority of renovation work, including complete rewiring and plumbing, contracting only roof and HVAC work. He is now out of the picture.

Now that we're on our own, we're trying to decide how to proceed. I see the following options:

1. Pay a GC to renovate the three unfinished houses. I imagine this could be prohibitively expensive given the amount of work. We averaged something like 15K per house in materials and labor with very little outside contracting.

2. Sit on the unfinished houses, incurring upkeep and tax costs, and revisit when we have more money or the market will offer a substantial profit. I like to think that the land alone is worth more than what we paid for the houses and that we could still stand to turn a profit in the future.

3. Sell the three unfinished houses as-is and continue to manage the completed rentals.

4. Sell everything.

I'm reluctant to sell given the long-term potential of the homes, as many of are in areas that are prime for gentrification in 10-15 years. However, management is a real concern. Renting in low-income neighborhoods can be brutal. Some of our houses are section 8 and some are rented by the room. I don't think regular property management companies would want anything to do with our portfolio, and I just don't see how we can continue without an independent manager/handyman. My mother is retired but currently working part time to help keep things afloat. I work full-time. Neither of us have the time or resources to do ongoing maintenance and management, and we don't want to be forced to live in this area indefinitely.

Jointly, our income after expenses and overhead is somewhere around 10K monthly provided everyone is paying rent, though mom probably has a bunch of debt I'm not accounting for. All but two of the houses (mom's primary and her first rental) are paid off. Additionally, I have $17K available in a HELOC @ 4.5%.

We really aren't cut out for this business, but we're in pretty deep for better or worse. Can we salvage something of this without going bankrupt? If we do by some miracle find the right management solution, would we still need to live nearby, or would monthly/bimonthly visits be enough? Mom is exasperated and wants to wash her hands of everything, but I'm slightly more hopeful. We've sacrificed so much to build what we have now, and it would be heartbreaking to admit defeat.