Some operator takes some pity on me and says I can do some of this expedited and in person but only at Lake Zurich, Mount Prospect or Springfield walk in. 

Turns out, the right marketing found renters who appreciated the quality and were willing to pay a premium.

These are high quality properties that require very little or no deferred maintenance for the Buyers.  

The license doesn't cost more, the service and quality does.And a note on that cost, in my experience hiring contractors, only a small percentage of the cost savings was due to finding the right guy who is willing to work for less.

Personally I think this is where a lot of sale lease back programs fail the seller.

If you need more to do the rehab, perhaps instead of partnering, you could get your former boss to do a personal loan. 

Personal loan for renovations How did you add value to the deal?

@Antoine Black  In general, yes, it goes off your personal credit. 

Not being on the ground makes it difficult to monitor progress and judge the quality of work.

I know some will differ here but I will offer my personal opinion like many others have.