Let me go through the different parts of your L/O one at a time.First. 

The second is that we are a long way off an automated model actually doing the same job as a high level LO.

I would start with door knocking, wholesaling, then buy and hold.i would learn about OF and LO.

So I have a seller interested in doing a L/O.

If you guys can think of anything we'd greatly appreciate it, even if it's just a specific episode about LO's from a podcaster that doesn't normally talk about them...thanks!

@Alexander Felice, "It's a Mortgage business thing, you wouldn't understand"  is what every lender, processor, U/W and LO reading this is thinking as a response to your comment above.

I love L/O. 

I'm interested in assigning L/o contracts as well..I've checked out Joe Mcall's stuff and it's really good..It's quite thorough..However, I have no idea how to bring up to the seller that I'm gonna assign the contract to a tenant/buyer..For some reason, this is always glossed over..In other words, how do I open up w/ my pitch?

(LO, someone specializing in REI, a Yodaesque person who has all the answers?)

You didn't post the purchase price, but $25k may even be over the FHA seller credit cap anyways (don't worry, if your LO and/or real estate agent didn't catch it upfront then I'm sure the underwriter will... at the last second :P ).