The issue is the down payment is over $250k and no one has that or is willing to fork over that amount.

There are probably a lot of hidden issues wiht the house.

Perhaps if your partner was a general contractor or handyman type there may be some merit there to reduce costs / increase profitability.If your partner enjoys deal sourcing, a better move might be for him to become an agent - so he could legally collect commissions from finding deals and managing properties for multiple people. 

It also allows the manager to work directly with the insurance company to resolve issues efficiently.In Texas, this is part of the standard Texas Board of Realtors Property Management Agreement and is considered an industry best practice.

A professional manager can find qualified tenants who respect your home and handle day-to-day issues.

I’m going to disagree with @Chris Seveney and say whether an assignee could force a sale directly would be a state law issue and heavily dependent upon the contract terms. 

The issue I see most is the cashflow gets crushed by HOA fees and the added headaches of having them tweaking rules etc. 

But during the buyer’s due diligence, several unexpected issues surfaced, each cutting deeper into the profit I had worked years to earn.The first issue was with the water lines.

His God complex and giant ego won't allow him to reflect on the damage he's done  keep in mind if the SEC detects a serious issue and one that could harm investors right now they have the power to take emergency action and shut them down.

Overcrowding can strain plumbing, electrical systems, and air conditioning, leading to expensive maintenance issues.