Gross Monthly Income was $3750 when fully occupied, and I believe with a bit more sweat equity and some paint, along with rising market rents, we could get $3900/month.

BUT... and this is just me - whenever I have these kind of issues, no matterwhich business it comes up with, I go and run the numbers really quick. if the numbers are way to high to let it go - then by all means, sue all of them. if the numbers show that you will be sweating your butt off for years in court so your hours are worth money too... you might want to "pay the fine" learn from it and move on. painful.

You are not allowed to work on your own units because it is considered sweat equity and viewed as a form of payment into the IRA?

It really just comes down to how much 'sweat equity' you are putting in.  

Maybe they can give you an estimate but then there's sweat equity vs. handyman vs. licensed/bonded contractor prices.

He does the work they put up the money.. in the beginning make the deal super sweat for the investor so you actually can get an investor  ( I see many beginners think they should get an even split etc and can't understand why they can't land a money partner)... get some experience and make some money.. then move it up from there.

They provide the cash equity and you provide the sweat equity (find the deals, manage the rehab and sale).Best of luck!

I've also been looking at foreclosures and 'board-ups,' but as I think through it, they might be too much for rookies, even someone with the willingness to put in the 'sweat equity.'

(I am not a Pro at investing yet, that will take time and sweat equity before I reach that level!!)  

He's expensive as hell (the consult was free), but I don't sweat it because my mind is now at peace, and it's a one time fee.