The upside for me per their proforma (less risk-free return on my money) would be roughly 50% boost over what I would get by just selling the lots. 

Pee remediation (includes demo, new subfloor, new drywall, primer $30KFlooring throughout, $10,000trim - $2000doors - $3000paint- $4000back patio - $2,000front - curb appeal - $1,000HVAC- $5000electrical -$5000plumbing -$2000kitchen - $20,000half bath - $2500bath 1 -$5000bath 2 - $5000hot water heater - $2000windows -$5000Details/fixtures/lighting: $5000TOTAL ESTIMATED RENO: $110,000

There really aren't any major companies boosting the Macon economic market.

It gives good curb appeal and if the resident screws it up, I'm out maybe $80 or withhold the same from the security deposit. 

No lawyer needed, just give them a three day notice to vacate, then file eviction with property courts, go to court a few weeks later, wait a week, file to get constable out, put them on the curb.

Definetly interview the contractors ((yes more then 1)  and ask them all the same questions, if one is saying something different, kick him to curb.

Thanks @Mike D'Arrigo , MAREI is growing - we typically have about 150 people at a meeting although we have seen almost 300 in March - but everyone loved our speaker so we had a huge boost.  

If you can come to the city to visit that helps but often, as a majority of properties are "curb offers only", buyers will come out for inspections after the offer is made and then go home and complete the rest of deal form there.

Regardless, below is a common re-positioning plan:Rehab the exterior, landscaping, and amenities first, which adds value to the existing residents (and curb appeal to the new ones)Rehab the vacant unitNotify another resident and provide them with the option to (1) stay in their un-renovated unit at the new rent (2) move into the renovated unit (3) move out.Repeat (with as many or as few units as you like)Assume (and be prepared) for some residents to provide notice on their own to move out (as word gets out)Provide 60 day notice, be respectful, and just run your business. 

Interior updates and curb appeal.