I have been working this area for the past two years. I cant say it has been a great deal, but it is keeping us afloat. Dont be alarmed if they want you to sign a Waiver of Lien BEFORE you even start the job! So far, I have always been paid. Expect it to take 30 to 60 days, and they WILL NOT make progress payments.
Many of these properties have been so badly maintained, they can dump $10k into a house, and you don't even think you have done anything.