He knows a lot more about real estate than I do (though I am learning all that I can), and has done a few deals himself, but has no interest in swinging a hammer or getting messy.

After 14 months of me swinging the hammer, sweating pipes, painting, etc etc...the list goes on and on...oh and don't forget another $40,000 for rehab...it appraised this past summer for $260,000.

Maybe you are working on a house, the neighbor comes over, you're swinging a hammer, not wearing a suit.

When the local PHA finds out, they would likely just bring the hammer down on the couple, but depending on their view of the situation, they might come after you for some of their money back, it depends on the details of the fraud by your tenants.

I realize that was the PM, but you are responsible for the PM.I honestly feel, based on everything you have said, that is this ends up in court, you are going to get hammered.  

I would have never noticed this if I hadnt pulled the wall myself.Demo is pretty easy as you see on those hgtv and DIY showsa few simple tools like a cats claw or wonder bar hatchet. or hammer is all that is needed.wing the back of a hatchet or cats claw and make several holes in a 3x3 areathen stick the other end into the holes and pull it is pretty simple after it is all removed if you want you can remove the screwsbut most contractors will be checking for screws as they hang drywall anyway and the good ones will be happy to as they will reuse the scres.doing the demo can shave a thousand or so off of the price.what about the mess?

Stuff like that needs to be hammered out.  

Seasoned members, tired of repeating thins over and over because new folks won't search enough to ask a specific question, or just need to keep hammering away on the same thing?

I didn't know how to hang a picture on the wall with a hammer and a nail.

A lot of those old lines are lead and if you can get to it you can tap, tap, tap on the end with a hammer to slow or shut  down the water.