Your irresistible offer appears to not have turned out so well either by your own admission and my advice is to help you and others reading this about the importance of knowing how and what to have in your contracts, how to properly vet buyers BEFORE you bring them a deal, etc. your situation is a great learning lesson for others and for yourself if you are willing to learn from your own mistakes.As to the assignment being legal or not, I am not 100% knowledgeable on NC laws, however, I have had several experienced investors tell me North C has similar laws regarding this process as does CA, FL, etc.

The key to having great financial systems is the setup and systems: If you get everything structured properly up front, you avoid most of the ugly problems many RE investors face later on.I'm not an accountant nor a bookkeeper, but I have great recommendations for both!

Just a note for you since I was just talking to a client about this: if you live in a high-income state or have privacy concerns and are living the digital nomad lifestyle, south Dakota has an interesting residency status program that can potentially save you guys 10s of thousands on income tax and have great anonymity. 

As someone who spends a majority of time at work, I'm currently in the exploration phase of understanding the real estate landscape, particularly the BRRRR strategy, and how it might fit into my lifestyle and commitments.1.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

He will be required to have references and proper insurance but it's not difficult having him approved. 

I find this level of underwriting lacking with many flippers as well, failing to properly consider the holding costs, insurance costs, taxes, etc.

But statistically, how many actually CHANGE their lifestyle so that they actually pay off those Credit Card/s?

Were they properly screened?

Do you have the knowledge and insight to handle any LT complaints and are you set up properly with your bank and security accounts and can easily collect the rent, etc?